October 23, 2008
Posted: 09:30 AM ET
From CNNMoney.com's Aaron Smith 
Greenspan told a House Committee Thursday the nation will emerge from the credit crisis.
 NEW YORK (CNNMoney.com) – Former Federal Reserve Chairman Alan Greenspan told a House committee Thursday that the nation will emerge from the current credit crisis with a "far sounder financial system." "We are in the midst of a once-in-a century credit tsunami," Greenspan told the House Oversight and Reform Committee in prepared testimony. Greenspan said that whatever regulatory changes are made to respond to the crisis, "they will pale in comparison to the change already evident in today's markets." Filed under: Alan Greenspan June 25, 2008
Posted: 04:06 PM ET
From CNNMoney.com's Aaron Smith 
Washington is debating the effects of oil speculation.
NEW YORK (CNNMoney.com) — It's the $64,000 question on Capitol Hill this week: what is responsible for the record escalation on oil prices? Speculators have taken much of the blame. But on Wednesday, one of the nation's leading energy analysts said that it's more complicated than that and the cause is multi-faceted. "In such circumstances as these, there is a tendency to seek a single explanation," said Daniel Yergin, in testimony before the Joint Economic Committee. "History, however, demonstrates that changes of this scale and significance result not from a single cause, but rather from a confluence of factors. Filed under: Capitol Hill |
 
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