Wednesday, 11 March 2009

Greenspan also wants a dynamic world economy

Earlier on today I posted a point of view that Mr. Bernanke's recipe for a future with dynamism and innovation in finance sounded just a teeny bit risky. On the pages of the Wall Street Journal today there is very similar rhetoric from Mr. Greenspan

If we are to retain a dynamic world economy capable of producing prosperity and future sustainable growth, we cannot rely on governments to intermediate saving and investment flows. Our challenge in the months ahead will be to install a regulatory regime that will ensure responsible risk management on the part of financial institutions, while encouraging them to continue taking the risks necessary and inherent in any successful market economy.

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