10 Sep 2009

Crash not my fault - Greenspan

8:46 am on 10 September 2009

Former US Federal Reserve chairman Alan Greenspan says he's not responsible for the financial and economic crisis that has buffeted the world.

Some argue Dr Greenspan should shoulder much of the blame after keeping interest rates in the United States too low from 2003.

Dr Greenspan has told the BBC the real root of the crisis lies in human nature and that will lead to another financial crisis.

He also said financial institutions should have seen the looming crisis.

Dr Greenspan added that he had predicted the crash would come as a reaction to a long period of prosperity.

However, while it may take time and be a difficult process, he said on The Love of Money series that the global economy would eventually "get through it".