Greenspan admits he was slow to pick up on sub-prime dangers

By David Usborne in New YorkPublished: 15 September 2007It is not quite a mea culpa, but Alan Greenspan is now admitting that he was aware that the successive interest cuts under his stewardship of the Federal Reserve were encouraging an explosion in sub-prime lending but that he was slow in realising the dangers that the trend carried for the economy.He makes the confession in an interview with