Former Federal Reserve Chairman Alan Greenspan and the government of US President George W. Bush were to blame for the US financial crisis, Nobel laureate economist Joseph Stiglitz said in a magazine interview.
"This man (Greenspan) has unfortunately made a lot of mistakes," said former World Bank chief economist Stiglitz, according to a preview of the interview to be published on Monday in profil magazine.
"His first one was to support all the tax cuts which were introduced under Bush - they didn't stimulate the economy very much ... This task was then transferred more towards monetary policy, though then (Greenspan) created a flood of credits with low interest rates," Stiglitz was quoted as saying.
Earlier in April, Greenspan said in an interview with CNBC television that the US economy was in recession and defended his chairmanship of the US central bank against charges that his policy missteps had laid the groundwork for the crisis.
He said decisions during his charge had been rationally constructed based on evidence at the time. Stiglitz said Bush's government was also to blame.
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