Greenspan: Fed carried on 11 Sept without him

US - Federal Reserve Chairman Alan Greenspan, who is often praised for his steady hand during times of crisis, said Friday that he was "essentially incommunicado" on 11 Sept, yet the Fed functioned quite well without him.

New York Stock Exchange Chairman Richard Grasso, introducing Greenspan for a speech, noted that Friday was the 14th anniversary of the 19 Oct, 1987, stock market crash, when the Dow Jones industrial average suffered its biggest percentage loss in history, a drop of 22.6%.

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