Temperamentally, I am a cook: fairly disorganized, last-minute everything, prone to flights of fancy and unable to resist the temptation to tinker. She is among the first culinary professionals to produce cooking apps for mobile phones and tablet computers. [73] When asked about free markets and Rand's ideas, however, Greenspan clarified his stance on laissez faire capitalism and asserted that in a democratic society there could be no better alternative. Whisk the flour, baking powder, and salt together; set aside. Other government agencies also supported that view.[101]. He concluded: "It is important, indeed crucial, that any reforms in, and adjustments to, the structure of markets and regulation not inhibit our most reliable and effective safeguards against cumulative economic failure: market flexibility and open competition." But she'll also point you toward the most delicious easy dessert recipes, the kind of loaf-pan cakes that are perfect for brunch or snacking throughout the week. He concluded: "We have tried regulation ranging from heavy to central planning. It is a clich, but it is true: There are cooks, and there are bakers. Click it. "Dorie is so likable and kind, and it comes through in her prose," said New York Times food columnist and prolific cookbook author Melissa Clark. all rights reserved. [81] Greenspan stated that this drop in rates would have the effect of leading to a surge in home sales and refinancing, adding that "Besides sustaining the demand for new construction, mortgage markets have also been a powerful stabilizing force over the past two years of economic distress by facilitating the extraction of some of the equity that homeowners have built up over the years". [120], Greenspan has married twice. But there's also a new kind of partnership that I've become so aware of on the Web. [122] He dated newswoman Barbara Walters in the late 1970s. Alan was 58 and Andrea was 38 when they tied the knot. And, be sure to explore all of Greenspan's recipes on Epicurious, including her World Peace Cookies, Bubble-Top Brioches, Mushroom-Shallot Quiche, and Double-Chocolate Financier Cake. A pumpkin stuffed with bread, bacon, garlic and cheese can be a main course, according to cookbook author Dorie Greenspan. In April 1997, they were married by Supreme Court Justice Ruth Bader Ginsburg. [125], In 1976, Greenspan received the U.S. While every effort has been made to follow citation style rules, there may be some discrepancies. [11] After his parents divorced, Greenspan grew up with his mother in the household of his maternal grandparents who were born in Russia. Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. Dorie Greenspan is the kind of writer who can convince you that you're capable of tackling a fancy layer cake or complicated pastry project. My mother was very disappointed when I said I wanted to be a baker. [55][56], On April 30, 2009, Greenspan offered a defense of the H-1B visa program, telling a U.S. Senate subcommittee that the visa quota is "far too small to meet the need" and saying that it protects U.S. workers from global competition, creating a "privileged elite". [31][32][33] Although the Federal Reserve followed its announcement with monetary policy actions, which became known as the Greenspan put, George H.W. Bush attributed his re-election loss to a sluggish response. None meaningfully worked. I feel like France has been with me for a very, very long time. Her imaginative collection of recipes for pancakes, crepes, and blintzes will inspire you to keep the griddle hot from sunup to sundown. - https://composer.trade . [59] Greenspan discusses in his book, among other things, his history in government and economics, capitalism and other economic systems, current issues in the global economy, and future issues that face the global economy. W hen you think baking, you think Dorie Greenspan: She's coauthored numerous pastry books, including two with Pierre Herm and one with Julia Child; her James Beard Awardwinning Baking: From My Home to Yours inspired an online baking community that calls itself Tuesdays with Dorie; and last year, Greenspan and her son, Joshua, launched CookieBar, a wildly successful pop-up cookie shop on Manhattan's Upper East Side. Immediately after leaving the Fed, Greenspan formed an economic consulting firm, Greenspan Associates LLC. Dorie Greenspan's Chocolate Bread Pudding. In April 2008, however, Barron's obtained a copy and notes that it includes "a discussion of soaring housing prices and their effect on consumer spending; it even anticipates a bursting housing bubble". The economist is married to Andrea Mitchell , his starsign is Pisces and he is now 96 years of age. copyright 2023 dorie greenspan. The financial markets had come to depend on this ever since his rescue in 1987, and it became known as the. He was previously appointed to the post by Presidents Reagan, George H.W. Bush, and Bill Clinton. In a February 23, 2004, speech,[84] Greenspan suggested that more homeowners should consider taking out adjustable-rate mortgages (ARMs) where the interest rate adjusts itself to the current interest in the market. Vegan Miso Caramel Dip with Pretzels and Granny Smith Apples. Greenspan retired as chairman of the Federal Reserve Board in January 2006. Beat the butter until creamy; add sugar. His dissertation is not available from the university[19] since it was removed at Greenspan's request in 1987, when he became chairman of the Federal Reserve Board. Although he was subdued in his public appearances, favorable media coverage raised his profile to a point that several observers likened him to a "rock star". 1 stick (8 tablespoons/4 ounces/113g) very cold unsalted butter, cut into 16 . I never got fast enough to be in the kitchen. And a friend of mine said, "You know, you should write about food." [87] In that speech, Greenspan had suggested that lenders should offer to home purchasers a greater variety of "mortgage product alternatives" other than traditional fixed-rate mortgages. That's when I got the opportunity to shop at the markets, to have my own Madame Saucisson, and my own cheese guy, and to cook for friends in my own home. He will be remembered . And so it's this real mix of traditional food, because that never goes away in France, and new foodmodern food. Dorie Greenspan's name is synonymous with baking.Join the best-selling author of 13 cookbooks, New York Times baking columnist, and winner of 5 James Beard awards as she discusses her new book, Baking with Dorie: Sweet, Salty & Simple.It's Greenspan's first all-purpose baking collection in more than a decade, and it's as American as her Mulled Butter Apple Pie. And you can taste as you go. I gave up working on my doctorate in gerontology to bake cookies in a restaurant basement (a job I was fired from) and thank my stars I did. World Peace Cookies 2.0. The renowned cookbook author discusses her newest book and living in Parisplus, she shares three of her favorite new recipes. [69] Rand stood beside him at his 1974 swearing-in as chairman of the Council of Economic Advisers. Find many great new & used options and get the best deals for Baking: From My Home to Yours by Dorie Greenspan Hardcover Cookbook NEVER USED at the best online prices at eBay! Free shipping for many products! With cooking, you've got a sense of what it's going to be, you have a thought about seasoning it. In it he argued: "We will never be able to anticipate all discontinuities in financial markets." Greenspan, the author of countless cookbooks, including Dorie's Cookies, told Epicurious that she learned through trial and error that baking cookies in small metal ring molds are the best way to give them a clean, tailored look. So I think I got my first stories almost by accident. 0. You can serve a slice so it's like a pumpkin smile with the filling resting on it, or you can just reach in and scoop around the edge of the pumpkin and serve it by the spoonful. I make Gougres constantly. His memoir, The Age of Turbulence: Adventures in a New World, was published in 2007. Every time something looked like an opportunity, I always said, "Yes." On May 18, 2004, Greenspan was nominated by President George W. Bush to serve for an unprecedented fifth term as chairman of the Federal Reserve. Although the book mostly constituted a reassertion and recontextualization of Greenspans long-held principles, it notably allowed for the greater impact of John Maynard Keyness animal spiritsessentially human emotionon market behaviour. "[98] Financial Times associate editor and chief economics commentator Martin Wolf defended Greenspan primarily as a scapegoat for the market turmoil. [22] Before he was appointed chairman of the Federal Reserve, from 1955 to 1987, Greenspan was chairman and president of Townsend-Greenspan & Co., Inc., an economics consulting firm in New York City. The situation screamed for government oversight of lending institutions, lest the banks lend to unfit borrowers. The reason that Greenspan took the monetary actions he did, I am sure, is because at the time he thought they were the best policy. And once it goes into the oven, it's all overwhatever it is, it is. During the years of his chairmanship, Greenspan became known for his decisive use of monetary policy in steering the economy between the hazards of inflation and recession. He also drew the publics attention to what he called unsustainable rates of growth in the U.S. economy and overextended stock prices toward the end of the 20th century. Alan Greenspan: The former chairman of the Board of Governors of the Federal Reserve System as well as the Federal Open Market Committee (FOMC), the Fed's principal monetary policymaking body. DG: There are a lot of them. The course highlighted the causes of prosperity and depression, the consequences of government intervention, and the fallacies of collectivist economics. [25][26] He was a director of the Council on Foreign Relations foreign policy organization between 1982 and 1988. I got to talk to people all day long about cookies and what they mean to people and how much they love them. 15 min. degree in economics in 1950. My husband said, "Well, you love bakingyou should bake." "[77], Greenspan stated that the housing bubble was "fundamentally engendered by the decline in real long-term interest rates",[78] though he also claims that long-term interest rates are beyond the control of central banks because "the market value of global long-term securities is approaching $100 trillion" and thus these and other asset markets are large enough that they "now swamp the resources of central banks". [65], Greenspan has come under criticism from Harry Binswanger,[71] who believes his actions while at work for the Federal Reserve and his publicly expressed opinions on other issues show abandonment of Objectivist and free market principles. [84] Greenspan also praised the rise of the subprime mortgage industry and its tools for assessing credit-worthiness: Innovation has brought about a multitude of new products, such as subprime loans and niche credit programs for immigrants. Updates? [134]. [132], Greenspan was elected to the American Philosophical Society in 2000. There's a chapter devoted to big and small cakes and another one for pies, tarts and cobblers for . He was far from sure that the increase in house prices posed a . In 1987, Ronald Reagan appointed Alan Greenspan to chair the Federal Reserve Board, America's central bank, where Greenspan remained for 19 years. zaloguj si | za konto. Democratic president Bill Clinton reappointed Greenspan, and consulted him on economic matters. A James Beard award-winning cookbook author's stories and recipes from here, there and Paris. DG: I was working on a doctorate in gerontology, but I never wrote my dissertation. I love that. He is also named in Time magazine as one of the "25 People to Blame for the Financial Crisis". DG: I was 19 years old when I got married, and I had never cooked before. In September 2008, Joseph Stiglitz stated that Greenspan "didn't really believe in regulation; when the excesses of the financial system were noted, (he and others) called for self-regulationan oxymoron". I make them and freeze them unbaked and then bake them straight from the freezer. [50] He also accepted an honorary (unpaid) position at HM Treasury in the United Kingdom. My mother didn't cook and she was uninterested in cooking. Appointed by U.S. Pres. [29] Investor, author and commentator Jim Rogers has said that Greenspan lobbied to get this chairmanship. This is really my look at French food todaythe way I'm cooking it at home, the way my friends are cooking it at home. And it's that which made him [Saddam] far more important to get out than bin Laden."[45]. Instead, he waited until the bubble burst, as it did in 2000, then tried to clean up the mess afterward". Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated as of 1/1/21) and Privacy Policy and Cookie Statement (updated as of 1/1/21). His influence on global finance was considered so extensive that in September 1999 The Sunday Times of London named him one of the three most powerful people in the British Isles. In reality, Greenspan didn't know and evidence supporting this claim was his strident avoidance of clarity. It's not a by-the-rules French book. [58] Greenspan says that he wrote the book in longhand mostly while soaking in the bathtub, a habit he regularly employs since injuring his back in 1971. "Baking With Dorie" is number 14. People have been loving Dorie Greenspan and her cookbooks since her first one, "Sweet Times," came out 30 years ago. If it wasn't elaborate, if it wasn't complex, if it wasn't going to take me all day, it just didn't interest me. There's Dorie's Classic Chocolate Chip Cookies (a fan favorite); One Big Break-Apart Chipper (a large, sheet-tray-size cookie Greenspan suggests you let guests break off pieces of);. [63] Although he respected what he saw as Richard Nixon's immense intelligence, Greenspan found him to be "sadly paranoid, misanthropic and cynical". She introduced me to someone at Food & Wine, and they said, "Why don't you send us a proposal?" Both sophisticated and satisfying. You can have a moment of inspiration and make a midcourse change. [74], E. Ray Canterbery has chronicled Greenspan's relationship with Rand, and has concluded that the influence has had pernicious effects on Greenspan's monetary policy. [96], In March 2008, Greenspan wrote an article for the Financial Times' Economists' Forum in which he said that the 2008-financial crisis in the United States is likely to be judged as the most wrenching since the end of World WarII. But I have been very distressed by that fact." I used to make everything from scratcheverything. The article attracted a number of critical responses from forum contributors, who, finding causation between Greenspan's policies and the discontinuities in financial markets that followed, criticized Greenspan mainly for what many believed to be his unbalanced and immovable ideological suppositions about global capitalism and free competitive markets. So, they're really part of the daily cuisine. Epi: In the intro to Around My French Table, you write: "I always feel that when I send a recipe out into the world, I'm asking you to be my partner in making it, and I love this about cookbookery." Unregulated Free Market Fundamentalism Zealotry", "How to Prevent the Next Wall Street Crisis", "In Washington, Financial Furor Is a First-Rate Chance to Assess Blame", "We will never have a perfect model of risk", "Why Greenspan Does Not Bear Most of the Blame", Over-the-Counter Derivatives Markets and the Commodity Exchange Act: Report of The President's Working Group on Financial Markets, "Greenspan "shocked" at credit breakdown", "Greenspan admits some guilt over financial crisis", "Matt Taibbi: "Why Isn't Wall Street in Jail?" (My last cookbook, Everyday Dorie, was a Scorpio, like its mom.). It can be an clair, it can be a cake, it can be a cookie jar full of cookies, it can be anything. 1 cups (238g) all-purpose flour. [81], According to some, however, Greenspan's policies of adjusting interest rates to historic lows contributed to a housing bubble in the United States. [116][117] Greenspan had used his position as Fed chairman to comment upon fiscal policy as early as 1993, however, when he supported President Clinton's deficit reduction plan, which included tax increases and budget cuts. They write new content and verify and edit content received from contributors. International recognition of Greenspans achievements continued: in 2000 the French government awarded him the Legion of Honour, and in 2002 Queen Elizabeth II of the United Kingdom named him an honorary Knight of the British Empire. [52], In May 2007, Greenspan was hired as a special consultant by Pacific Investment Management Company (PIMCO) to participate in their quarterly economic forums and speak privately with the bond managers about Fed interest rate policy. And when I told people that I was a food writer, they would say, "What's that?" What touches me, really, is the number of people who have written to me to say that they joined the group as non-bakers. Alan Greenspan, former Federal Reserve chairman, concluded "free enterprise" with no regulation is the best way to run an economy . Epicurious: What motivated you to write Around My French Table? When Representative Henry Waxman (D-CA) pressed him to clarify his words. In 2008, Greenspan expressed great frustration that the February 23 speech was used to criticize him on ARMs and the subprime mortgage crisis, and stated that he had made countervailing comments eight days after it that praised traditional fixed-rate mortgages. Luckily, Greenspan's latest cookbook, "Baking Chez Moi" (Houghton Mifflin Harcourt, 2014), has little tolerance for time- or skill-intensive baking. I think I'm very, very lucky to have both in my life. Her 11-city book tour brings Greenspan to Bartolotta's Lake Park Bistro, 3133 E. Newberry Blvd., for "An Evening with Dorie Greenspan," 6:30 p.m. Nov. 7. Epi: Last February, you and your son, Joshua, opened CookieBar, a six-day pop-up cookie shop in New York City. . Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. [115], Republican Senator Jim Bunning, who opposed Greenspan's fifth reconfirmation, charged that Greenspan should comment only on monetary policy, not fiscal policy. degree in economics summa cum laude in 1948[16] and an M.A. [123] In December 1984, Greenspan began dating journalist Andrea Mitchell. For decades, home cooks and professionals alike have turned to one pint-sized authority, Dorie Greenspan, for wisdom related to cookies, cakes, crumbles, tarts, and more, all of which are hard-wired into the sweets-inspired narrative of her life. I had cookies flying off their baking sheets because of the convection, and stuff that was supposed to take 18 minutes was burned in half that time. As chairman of the board, Greenspan did not give any broadcast interviews from 1987 through 2005.[49]. by Dorie Greenspan | Oct 25, 2016. I just think it's phenomenal. In 2007, Paulson had foreseen the collapse of the sub-prime housing market and hired Goldman Sachs to package their sub-prime holdings into derivatives and sell them. It's the food that I cook when I'm in France. The Pumpkin Stuffed with Everything Goodit's a pumpkin that you fill with bread, cheese, and bacon; you can also put rice in it. As the Asian economies recovered and the U.S. economy continued its solid expansion, he initiated a series of interest rate hikes in June 1999. Around My French Table: More than 300 Recipes from my Home to Yours. Beat for 3 minutes more; stir in the vanilla. Please refer to the appropriate style manual or other sources if you have any questions. Fri 16 Jan 2009 19.01 EST. Greenspan has won the James Beard Foundation Award five times, as well as the International Association of Culinary Professionals Cookbook of the Year Awards for Desserts by Pierre Herm and Around My French Table, and Dorie's Cookies. An Evening with Dorie Greenspan. I know I'm influenced by that experience. If that flow is shut off, it causes catastrophic effects in the industrial world. [57], Greenspan wrote a memoir titled The Age of Turbulence: Adventures in a New World, published September 17, 2007. [30], Two months after his confirmation, Greenspan said immediately following the 1987 stock market crash that the Fed "affirmed today its readiness to serve as a source of liquidity to support the economic and financial system". 4 comments. Dorie Greenspan's Rugelach. Early on, I discovered that no matter how much time you spent cooking dinner, when you fed people dessert, they were happiest. She was looking forward to saying, "Dr. In that testimony, Greenspan had stated that growing worker insecurity is a significant factor keeping inflation and inflation expectation low, thereby promoting long-term investment. I want to be out there sitting around the table with my friends. [17] At Columbia University, he pursued advanced economic studies under Arthur Burns but withdrew because of his increasing work demand at Townsend-Greenspan & Company. Facebook Twitter Pinterest Email. Some economic commentators blamed this collapse on Greenspan's policies while at the Fed. Check out her best cookie tips. Greenspan's baking books, including volumes written with Child and the French dessert kingpin Pierre Herm, have taught millions to turn butter, flour, and sugar into spectacular, smile-inducing treats. Greenspan was given a share of the credit for the longest official economic expansion in U.S. history (March 1991February 2000). In a large bowl, beat the butter, both sugars and . For more on Greenspan and to read her blog, go to Doriegreenspan.com. DG: I was amazed when this started. Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation's economic crisis was his fault on Thursday but . [7] Then-Democratic House Minority Leader Nancy Pelosi added that there were serious questions about the Fed's independence as a result of Greenspan's public statements. 4.7 4.7 out of 5 stars (771) Hardcover. Greenspan advised senior members of the George W. Bush administration to depose Saddam Hussein for the sake of the oil markets. [85] The Fed's own funds rate was at a then all-time-low of 1%. Such developments are representative of the market responses that have driven the financial services industry throughout the history of our country With these advances in technology, lenders have taken advantage of credit-scoring models and other techniques for efficiently extending credit to a broader spectrum of consumers. I didn't know exactly what I wanted to do, but I knew I wanted it to be food. He works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. In her nine solo cookbooksmost recently Everyday Dorie, which came out late last yearGreenspan has guided thousands through everything from gougres pastry to goat cheese tart. "[104] Greenspan admitted fault[105] in opposing regulation of derivatives and acknowledged that financial institutions didn't protect shareholders and investments as well as he expected. In a recent interview at Wharton, former Federal Reserve Chairman Alan Greenspan discussed recession fears, China's growth and what the U.S. can learn from Sweden. Dorie Greenspan. If Mr. Greenspan had acted differently during his tenure as Federal Reserve chairman from 1987 to 2006, many economists say, the current crisis might have been averted or muted. Chairman of the U.S. Federal Reserve from 1987 to 2006 (born 1926), Political views and alleged politicization of office, (Remarks to the Federal Reserve Bank of Chicago's Forty-first Annual Conference on Bank Structure via satellite), (Report on meeting of Committee on Oversight and Government Reform), Regional Comprehensive Economic Partnership, New York University's Stern School of Business, tariffs against the People's Republic of China, The Age of Turbulence: Adventures in a New World, Commodity Futures Modernization Act of 2000, President Clinton's deficit reduction plan, Department of Defense Medal for Distinguished Public Service, Knight Commander of the Order of the British Empire, fellow of the American Statistical Association, The Map and the Territory: Risk, Human Nature, and the Future of Forecasting, The Map and the Territory 2.0: Risk, Human Nature, and the Future of Forecasting, List of United States political appointments across party lines, "Greenspan Was More a Rock Star than a Feared Fed Sage", "Greenspan says Federal Budget Deficits are 'Unsustainable, "Little Alarm Shown at Fed At Dawn of Housing Bust", "Dr. Greenspan's Amazing Invisible Thesis", "Looking at Greenspan's Long-Lost Thesis", "Alan Greenspan, Chairman of the Board of Governors of Federal Reserve, Receives Dean's Medal at Wharton School MBA Commencement", "U.S. Senate Panel Votes for 4th Term for Fed Chairman Greenspan", "Historical Roster of Directors and Officers", A Brief History of the 1987 Stock Market Crash with a Discussion of the Federal Reserve Response, "Larry Summers on Conversations with Bill Kristol", "Q&A: Greenspan on Bubbles, Saddam, Cheney and Bernanke", "Greenspan: Ouster Of Hussein Crucial For Oil Security", "Invasion of Iraq was driven by oil, says Greenspan", "Greenspan Says Invasion and War 'Largely about Oil', "The Simple Arithmetic of John McCain's Bogus Claims of Energy Independence", "Greenspan Warns Against Anti-China Protectionism", "Greenspan Says Tariffs on China Would Hurt U.S. Economy, Jobs", "Pimco Hires Greenspan as Consultant: Report", "Alan Greeenspan to consult for Deutsche Bank Corporate and Investment Bank", "Tangled Webs: Greenspan, Paulson, Goldman, the SEC and C&C Music Factory", "Greenspan: H-1B Cap Would Make U.S. Workers 'Privileged Elite, "Greenspan Criticizes Bush Policies in Memoir", "Greenspan takes center stage in 'Age of Turbulence', "Greenspan Book Criticizes Bush And Republicans", "Former Fed Chief Attacks Bush on Fiscal Role", "Greenspan Concedes to 'Flaw' in His Market Ideology", "Greenspan Says Didn't See Subprime Storm Brewing", "Economic Outlook Hearing before the Joint Economic Committee, Congress of the United States", House Prices and Monetary Policy: A Cross-Country Study, "Greenspan Says ARMs Might Be Better Deal", "His Legacy Tarnished, Greenspan Goes on Defensive", "Who is to Blame for the Mortgage Carnage and Coming Financial Disaster? [62], In March 2005, in reaction to Greenspan's support of President Bush's plan to partially privatize Social Security, then-Democratic Senate Minority Leader Harry Reid attacked Greenspan as "one of the biggest political hacks we have in Washington"[5][6] and criticized him for supporting Bush's 2001 tax cut plan. Dorie Greenspan, 57, a baker who has written recipes for and with the most eminent pastry chefs in the world, including Pierre Herm, Nancy Silverton and Julia Child, says that she's learned. His parents divorced when he was a small kid and was left under his mother's care. "[46], Greenspan opposed tariffs against the People's Republic of China for its refusal to let the yuan rise,[47] suggesting instead that any American workers displaced by Chinese trade could be compensated through unemployment insurance and retraining programs.[48]. As I've said before, I've always supported moves to full funding in the context of a private account". So I tried to get a job as a baker, and I didand then I got fired. [citation needed], On June 2, 1987, President Ronald Reagan nominated Greenspan as a successor to Paul Volcker, as chairman of the Board of Governors of the Federal Reserve, and the Senate confirmed him on August 11, 1987. Senator John Heinz Award for Greatest Public Service by an Elected or Appointed Official, an award given out annually by Jefferson Awards. Tickets are $95, plus tax and gratuity . Following Rands urging, he served in 1967 as an adviser for Richard Nixons 1968 presidential election campaign. It's like brioche except it's soaked in butter and then sprinkled with sugar. His father, Herbert Greenspan, was of Romanian Jewish descent, and his mother, Rose Goldsmith, was of Hungarian Jewish descent. Related searches. [80] Then, after the accounting scandals of 2002, the Fed dropped the federal funds rate from then current 1.25% to 1.00%. About cup coarsely chopped walnuts, toasted or not, or more chocolate chunks. Now in a big, personal, and personable book, Dorie captures all the excitement . Although Greenspan was initially a logical positivist,[66] he was converted to Rand's philosophy of Objectivism by her associate Nathaniel Branden. In Congressional testimony on October 23, 2008, Greenspan acknowledged that he was "partially" wrong in opposing regulation and stated "Those of us who have looked to the self-interest of lending institutions to protect shareholder's equitymyself especiallyare in a state of shocked disbelief.