Former Federal Reserve Board Chairman Alan Greenspan (Photo by Alex Wong/Getty Images)
Former Fed Chairman Alan Greenspan says they probably can't be stopped except by letting free markets pop them. He told MarketWatch there may be limits to what monetary policy can accomplish. "When bubbles emerge, they take on a life of their own. It is very difficult to stop them, short of a debilitating crunch in the marketplace …," he said. "I do believe that central banks that believe they can quell bubbles are living in a state of unrealism." [Full Story]
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