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Greenspan Grilled as Bank Reform Rumbles Ahead

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DAZED AND CONFUSED
"At the commission hearing, Greenspan reiterated a defense of his actions by denying the Fed helped inflate housing prices with excessively low interest rates," Reuters reports. "Much of Greenspan's testimony retraced old ground, but the former Fed chairman also weighed in on reforms, calling for higher bank capital and liquidity standards. Echoing concerns voiced by both parties on Capitol Hill, he also said it was "highly disturbing" that markets expect bailouts for large financial firms that get into trouble."
SOURCE:   Reuters

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