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Greespann: "altre banche sull'orla della bancarotta", mentre certi cominciano a dubitare di un apertura dei mercati alle 9 in Europa
UPDATE 1-Greenspan: Other big U.S. finance firms may fail
Sun Sep 14, 2008 11:59am EDT
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(Adds details from interview, background)
WASHINGTON, Sept 14 (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan on Sunday said he suspected "we will see other major financial firms fail," but it did not need to be a problem.
"It depends on how it is handled and how the liquidations take place," Greenspan said on the ABC program, "This Week." "And indeed we shouldn't try to protect every single institution. The ordinary course of financial change has winners and losers."
Greenspan also said it was a very bad idea to get rid of short selling even though stock in major financial institutions such as Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) and American International Group (AIG.N: Quote, Profile, Research, Stock Buzz) have been beaten down in recent days.
In July, the U.S. Securities and Exchange Commission issued a temporary emergency rule to curb illegal short selling in 19 major finance stocks including Lehman and mortgage finance giants Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie
Greespann: "altre banche sull'orla della bancarotta", mentre certi cominciano a dubitare di un apertura dei mercati alle 9 in Europa
UPDATE 1-Greenspan: Other big U.S. finance firms may fail
Sun Sep 14, 2008 11:59am EDT
Email | Print |
Share
| Reprints | Single Page | Recommend (0)
[-] Text [+]
Market News
Stressed markets eye Fed, inflation
Wide financial sector fears to drive market
Wall St. ends flat amid Lehman vigil; oil a boost | Video
More Business & Investing News...
Featured Broker sponsored link
(Adds details from interview, background)
WASHINGTON, Sept 14 (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan on Sunday said he suspected "we will see other major financial firms fail," but it did not need to be a problem.
"It depends on how it is handled and how the liquidations take place," Greenspan said on the ABC program, "This Week." "And indeed we shouldn't try to protect every single institution. The ordinary course of financial change has winners and losers."
Greenspan also said it was a very bad idea to get rid of short selling even though stock in major financial institutions such as Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) and American International Group (AIG.N: Quote, Profile, Research, Stock Buzz) have been beaten down in recent days.
In July, the U.S. Securities and Exchange Commission issued a temporary emergency rule to curb illegal short selling in 19 major finance stocks including Lehman and mortgage finance giants Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie
