Greenspan: Don’t use Fed as a ‘magical piggy bank’

Troubled by the Bear Stearns debacle, former Federal Reserve Chairman Alan Greenspan is advocating a new way of dealing with government bailouts of companies whose sudden collapse could wreak havoc on the country’s economic and financial stability.

Striker: Well, Greenspan as you know, a libertarian economic bigwig who didn’t always stick to the principles and didn’t come out the bright shining star we hoped for, but read this

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