Why Greenspan is wrong - conditions are not like 1998

Former Fed maestro Alan Greenspan suggested recently that current stock market turmoil is identical to what we saw in 1987 and 1998. Here's why it's not.

The Wall Street Journal is reporting, "Greenspan Says Turmoil Fits Pattern":

"Former Federal Reserve Chairman Alan Greenspan said the current market turmoil is in many ways identical' to that which occurred in 1987 and 1998, when the giant hedge fund Long Term Capital Management nearly collapsed.

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