is the worst period, I recall since I've been in public service.
There's nothing like it, including the crisis — remember October
19th, 1987, when the Dow went down by a record amount 23 percent?
That I thought was the bottom of all potential problems.”
Greenspan: "This Is The Worst Period I Recall; There's Nothing Like It"
EXCLUSIVE » Fmr. Fed Chair Greenspan to CNBC: "This is the worst period I recall since I've been in public service.
Of course, what he is referring to was a market shock which was the result of a massive capital account imbalance resulting from the aftermath of the Louvre Accord coupled with the then trendy Portfolio Insurance (in which everyone was on the same side of the boat, much like now) and not so much an all out economic malaise. Which, however, does beg the question when a Black Monday-like market crash is coming?