Greenspan Says Financial Crisis Will Reoccur (And he Should Know!)

Alan Greenspan, the former US Federal Reserve chairman blamed in some quarters for not doing enough to prevent the financial crisis, has predicted that more crashes are inevitable.

Speaking a year after the collapse of Lehman Brothers, the US investment bank, Mr Greenspan said: "The crisis will happen again but it will be different. They [financial crises] are all different, but they have one fundamental source," he told the BBC. "That is the unquenchable capability of human beings when confronted with long periods of prosperity to presume that it will continue."

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