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  • BUSINESS: Alan Greenspan says central banks can no longer control money markets

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BUSINESS: Alan Greenspan says central banks can no longer control money markets

The handling of the Northern Rock crisis by the Bank of England's governor, Mervyn King, has been strongly backed by Alan Greenspan, the former boss of the US Federal Reserve. Greenspan also warns that its no longer possible for central banks to control the money markets and prevent financial bubbles. The best they can hope for is to control the damage inflicted on the wider economy.

ITN Source | October 1, 2007Watch more videos from ITN Source

Tags:. .markets. .hope. .source. .former. .financial











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