NPR logo Greenspan: Another Crisis Is Inevitable

Greenspan: Another Crisis Is Inevitable

Good morning. Former Federal Reserve chair Alan Greenspan tells the BBC that a global economic crisis "will happen again". Greenspan says people in prosperous times can't stop themselves from believing that leaner time are inevitable.

The Wall Street Journal finds the overhaul of financial regulation is faltering, a year after the Lehman Brothers collapse.

Surprising words from the Financial Times, which reports that Goldman Sachs CEO Lloyd Blankfein has attacked some investment banking products for lacking "social utility" — or as the FT paraphrases it, for being "socially useless."

Banks expect to haul in $27 million on overdraft fees this year from checks and debit cards.

The New York Times reports that 2.8 million households are carrying interest-only mortgages that will soon become a lot more expensive. The loans looked like a great deal when home values were rising. Now, not so much. As NPR's Chris Arnold reports, the threat of foreclosures remains a big, big problem for banks.