Greenspan: Market crisis ‘will happen again’

BBC
September 10, 2009

Editor’s note: Said Congressman Charles A. Lindberg Sr. after the passage of the Federal Reserve Act: “From now on depressions will be scientifically created.”

The world will suffer another financial crisis, former Federal Reserve chief Alan Greenspan has told the BBC.

“The crisis will happen again but it will be different,” he told BBC Two’s The Love of Money series.

He added that he had predicted the crash would come as a reaction to a long period of prosperity.

But while it may take time and be a difficult process, the global economy would eventually “get through it”, Mr Greenspan added.

• A d v e r t i s e m e n t

“They [financial crises] are all different, but they have one fundamental source,” he said.

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