2 hours, 27 minutes ago WASHINGTON (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) and American International Group (AIG.N) have been beaten down in recent days.
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