Tuesday, March 30, 2010
Greenspan: 100 • Geithner: 40 • Dimon: 7 • Johnson: Economic Crises Happen Every 5 Years In Our Current System
Greenspan says that the financial crisis was caused by a once-in-100-year event.
Tim Geithner says its more like once every 40 years.
Jamie Dimon implies every 5-7 years.
But Simon Johnson says its really once every 5 years:
Would the American people stand for the lack of any real reform if they knew that the financial system will likely melt down again within the next 5 years?