In last two decades the financial markets in US got deregulated, under the guidance of Alan Greenspan as he worked on assumption that markets are self stabilising, but in a recent testitmony Greenspan admitted he was wrong for 16 years 
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Selected and fresh photos from around the web.
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Editor's pick
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BASRA, IRAQ - OCTOBER 18: People gather around a Land Rover as it arrives at the village Al Houta on October 18 2008 near Basra, Iraq. The trip by the 51 Sqn Royal Air Force Regiment Force Protection Wing was part of a 'key leader engagement' (KLE) visit to the village close to the Basra Airbase to recruit local labour and engage with the village shiek. Visits of this type are seen as key in efforts to continue winning the support of the local Iraqi population. Although improved security in the region has brought some benefits such as improved trade and commerce, much of the infrastructure remains in a poor state of repair. Britain's Prime Minister Gordon Brown has indicated that the number of UK troops could be scaled down - especially as the security situation in the south of the country continues to improve.
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Democratic presidential nominee Senator Barack Obama (D-IL) speaks during a campaign rally in the rain at the University of Mary Washington in Fredericksburg, Virginia, September 27, 2008.
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A puppy stands on a truck carrying people to be evacuated from the area in preparation for the approach of Hurricane Gustav in Batabano, on the southern coast of Cuba, August 30, 2008. Powerful Hurricane Gustav roared toward western Cuba on Saturday with 125 mph (205 kph) winds on its way to the oil-rich Gulf of Mexico after a deadly pass through the Caribbean.
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BANGKOK, THAILAND - AUGUST 30: A member of Anti-government People's Alliance for Democracy (PAD) stands behind barbed wire outside Government on August 30, 2008, in Bangkok, Thailand. The protesters want to unseat the seven-month old coalition government lead by Prime Minister Samak Sundaravej.
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Hot off the wire
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Young Orthodox believers light candle during a service in memory of Russian Orthodox Patriarch Alexy II who died Friday, at Christ the Savior Cathedral in Moscow, Friday, Dec. 5, 2008. Russian Orthodox Patriarch Alexy II, who presided over a vast post-Soviet revival of faith but struggled against the influence of other churches, died Friday at age 79.
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Astana team manager Johan Bruyneel (C) poses with his riders, seven-time Tour de France champion Lance Armstrong (R) of the U.S. and 2007 Tour de France winner Alberto Contador of Spain, before the start of a training session in Tenerife, Spain's Canary Islands December 5, 2008. Bruyneel, the man behind Armstrong's seven Tour de France victories, said he is excited about the challenge of guiding an impressive squad to another Tour victory next year.
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NEW YORK - DECEMBER 04: Actor Harold Pirraneau attends the 2008 Stockings with Care celebrity bartending night at Bar 13 on December 4, 2008 in New York City.
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Recently starred
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A memorial tribute to shoe mogul Thomas Bata is shown at the Bata Shoe Museum in Toronto September 3, 2008. Bata died earlier this week at the age of 93.
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A visitor takes a close look at a photo by French photographer Bettina Rheims during the inauguration of her exhibition "Can You Find Happiness?" on March 7, 2008 at the c/o-Gallery in Berlin. The exhibition runs from March 8 to May 11, 2008.
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Forty-five euro coins, worth 500 Slovak Crowns or 16,60 euros, are seen in Bratislava where Slovakian banks and post offices started selling them on December 1,2008 before Slovakia joins the euro zone on January 1, 2009.
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People walk behind the European Union's flag during the annual gay parade in Budapest July 5, 2008. Several hundreds of demonstrators clashed with the police in the center of Hungarian capital as police tried to separate them from the participants of the Gay Pride march.
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Quotes about Alan Greenspan
In last two decades the financial markets in US got deregulated, under the guidance of Alan Greenspan as he worked on assumption that markets are self stabilising, but in a recent testitmony Greenspan admitted he was wrong for 16 years
said Arun Kumar
The massive trading in derivatives helped precipitate this crisis, and the man who did the most to prevent the regulation of derivatives was Alan Greenspan, the former chairman of the Federal Reserve Board, who believed the derivatives market would regulate itself. The US Congress agreed with Greenspan and passed a law excluding derivatives from being regulated.
was said
in Webindia123
Sound fiscal and monetary policies have helped unleash the potential of American workers and entrepreneurs. Alan Greenspan has done a superb job
was said
in ETF Investor
Labor and management made unprecedented changes to bring their costs in line with the competition ... They didn't anticipate the current economic environment any more than did Secretary (Henry) Paulson or Alan Greenspan.
said Sherrod Brown
in WKYC-TV
