They got it wrong:
- the regulators who thought the liberalised financial sector would work just fine by itself, and
- stock market pundits and the financial media who were giving the public a false sense of security ahead of the crash.
“I was shocked”: Alan Greenspan, a longtime ideological champion of free competitive markets and deregulation, admits under official questioning that his model was distressingly flawed, not right, and not working.
Jon Stewart clashes with a stock market guru