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"There is one most powerful reflection of the world--- self-reflection." SeaWaLK

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Saturday, October 25, 2008

We are in the midst of a "once-in-a century credit tsunami" Alan Greenspan.

"I made a mistake in presuming that the self-interest of organizations, specifically banks and others, were such as that they were best capable of protecting their own shareholders and their equity in the firms."

"A critical pillar to market competition and free markets did breakdown. I still do not fully understand why it happened."

"That's precisely the reason i was shocked, because i have been going for 40 years or more with considerable evidence it was working exceptionally well" Alan Greenspan.

Looks like the self-correcting power of free market ideology failed. Books have to be rewritten.

STI as of 241008: 1,600.28 from 3,842.95 in last quarter 07.

Inscribed and endorsed by SeaWaLK at 1:45 PM

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→Go Taiwan Taipei.(Wanna go tainan and taizhong)
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