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Greenspan on market upheaval

Reuters
Monday October 01, 2007

Oct 1. - Former U.S. Federal Reserve chairman Alan Greenspan says the recent abrupt market upheaval was an 'accident waiting to happen'.

In a speech at Reuters headquarters in London, Greenspan said it was a good sign that longer term lower quality assets were now being sought by lenders and he felt that the lending crisis which has hit financial institutions around the world in the past few months was "possibly" about to be over.

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