WASHINGTON, Oct. 23 (UPI) -- Former Federal Reserve Chairman Alan Greenspan Thursday told a House panel the United States is "in the midst of a once in a century credit tsunami."
Testifying before the House Committee on Oversight and Government Reform, Greenspan said he warned in 2005 of possible dire consequences of underestimating risk but not even he could have guessed at the scope and it has left him in a state of "shocked disbelief."