Greenspan launches blistering attack on US financial regulations

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Alan Greenspan, the chairman of the Federal Reserve between 1987 and 2006, on Wednesday tore apart the Dodd-Frank Act, the sweeping legislation brought in by the US government in an attempt to prevent future financial crises.

"The act may create the largest regulatory-induced market distortion since 1971," said Greenspan in a comment piece in the Financial Times. He claimed regulators have been assigned the impossible task of predicting and averting every undesirable repercussion that might come

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