In testifying before Congress Alan Greenspan the former head of the

Question

In 2008, testifying before Congress, Alan Greenspan, the former head of the Federal Reserve Bank.

a. argued that regulation would damage banks, Wall Street, and the mortgage market.

b. admitted that his conviction that free markets would produce the best results was flawed.

c. argued that the federal government should allow unregulated economic competition.

d. argued that banks and investment firms should regulate themselves.

e. called for deregulation and artificially low interest rates.

ANS: B TOP: The Great Recession DIF: Difficult

REF: Full p. 1113 | Seagull p. 1134 MSC: Analyzing

OBJ: 1. Explain what events eroded support for President Bushs policies during his second term.

Answer

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