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Crash of 1987 »

Posted on 6 Apr 2011 | 7,488 views
Government Bought Stocks After 1987 Crash on Greenspans Advice

Alan Greenspan assumed his most important public position on August 11, 1987, replacing Paul A. Volcker as chairman of the Board of Governors of the Federal Reserve System. Less than two months after assuming office, Greenspan was faced with such a financial market crisis — the 1987 Stock Market Crash.