Greenspan: we're still on the edge

Alan Greenspan, a former chairman of the Federal Reserve, has warned that American banks need to raise a lot more capital before the financial crisis can end.

Greenspan told Bloomberg, a news agency, on Wednesday that a very large unfunded capital requirement in the United States still existed and that the threat of a "very serious" mortgage crisis would prevail until the price of homes bottoms out.

"We're on the edge and if this thing doesn't get resolved quickly I'm worried," Greenspan said

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