Greenspan slams systemic risk watchers

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Alan Greenspan, a former chairman of the Federal Reserve, on Friday shot down ideas for systemic risk oversight bodies in the US and Europe, calling proposals for such councils "ill-advised."

In a paper presented at the Brookings Institution, a Washington-based think tank, Greenspan, who was Fed chief from August 1987 to January 2006, flatly dismissed the idea that a systemic risk council could correct the "too big to fail" problem in any way, noting that the models and estimations of such a bod

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