Mr Greenspan asks whether efficient financial markets mitigate financial crisis? Remarks by Mr Alan Greenspan, Chairman of the Board of Governors of the US Federal Reserve System, before the 1999 Financial Markets Conference of the Federal Reserve Bank of Atlanta, Sea Island, Georgia on 19 October 1999.
*  *  *  I am happy to address this conference, now in its eighth year, and endorse Atlanta Fed President Jack Guynn’s choice of topic. Many of us, with the benefit of hindsight, have been endeavoring for nearly two years to distil the critical lessons from the global crises of 1997 and 1998.