In an interview Sunday, the former Federal Reserve chairman said that more financial firms will fail and that housing won't stabilize until 2009.
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Fannie mae and Freddie mac were taken by US government. Government can print more money to alleviate their crisis. But how about other big companies? Lehman brother, the 159 year old company, is in big trouble now. A.I.G is also seek $40 billion money from Federal Reserve for help. Now the big man, Greenspan, said US economy is in crisis.
Is there really going to be a recession? If so, how big and how long the recession will be? Oh, I hope it won't be too bad >.<
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