Can you spell?

[Darren Dirt]

Alan Greenspan concedes "free-market needs regulation"...

Quote:...his "free-market ideology shunning regulation was flawed".

Former Treasury Secretary John Snow also appeared at the House committee hearing.

Snow said the economy is headed down a ``bad, bad path'' and he endorsed consideration of more fiscal stimulus. For the longer term, Snow said the global financial system should be reorganized by focusing on increasing transparency of ``excessive'' leverage to prevent institutions from creating too much risk.

The U.S. needs ``one strong national regulator'' to oversee firms and fix what Snow called ``a fragmented approach'' to regulation. ``Steps to restore transparency and responsibility in the marketplace will go a long way towards restoring stability and confidence,'' he said.

I just love words like "strong" in the context of "centralized", "oversee", etc. Makes me think of 1930s Germany...

PS: Doesn't the Fed basically act as a REGULATOR on the economics of the "nation"? How can a free-market be ABSENT of "regulation" if the money supply is regulated? :brain asplode: