Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Businessweek Archives

Greenspan Confesses (Sort of)

Former Federal Reserve Chief Alan Greenspan has told 60 Minutes that he “didn’t really get” that the huge surge in subprime lending was significant enough to hurt the economy until very late in 2005, according to the news service Levine Breaking News.

Greenspan told corresponent Leslie Stahl he knew that homebuyers were getting loans with ultra-low adjustable interest rates that would rise quickly soon after, but he didn’t think they’d blow up to the degree they ultimately did. “While I was aware a lot of these practices were going on, I had no notion of how significant they had become until very late,” he said. “I really didn’t get it until very late in 2005 and 2006.” The appearance, airing on CBS on Sunday, Sept. 16 is Greenspan’s first major interview. He’s out promoting a book, of course. His “The Age of Turbulence” is to be published the next day.

blog comments powered by Disqus