He said the housing bubble had burst and the market was "a good deal away" from its selling climax -- a point at which sellers ultimately lower their prices to match lower bids.
"I have no particular regrets. The housing bubble is not a reflection of what we did, as it is a global phenomenon.''
Alan Greenspan, is an American economist and was Chairman of the Board of Governors of the Federal Reserve of the United States from 1987 to 2006. In a nutshell, he is the equivalent of Trichet of the ECB in Europe, the one that set the interest rates.