WALL STREET FINANCIAL CRASH PROVOKES LEADING CHALLENGE FOR GLOBAL ECONOMY PARADIGM CHANGE. Ex Chairman of US FRB ALAN GREENSPAN stated – The Fed Can’t Become Overseer of Financial Stability. I can’t believe we could have a once-in-a-century type of financial crisis without a significant impact on the real economy globally which is occurring. http://www.xmail.net/technologos/ALAN.html View technologos reel of unfolding financial collapse
Barack Obama blamed republicans eight years of lax regulatory oversight for “the most serious financial crisis since the Great Depression” http://www.xmail.net/technologos/Aobama.html while the key man of the hour Hank Paulson, the US Treasury Secretary, blamed Wall Street for bringing the crisis on itself, and he called for a sweeping overhaul of financial regulation to prevent similar threats to global stability in the future . Henry Paulson, the ex-chairman of investment bank Goldman Sachs, has been nominated as the US treasury secretary in 2006 by President Bush who said he was looking forward to working with Paulson to keep the US economy powerful and prosperous.