Former Federal Reserve Chairman Alan Greenspan told Bloomberg Television's Betty Liu on 'In the Loop Friday morning that 'markets will crater if we run into any evidence that we can't solve this (fiscal cliff) problem'. Greenspan on the fiscal cliff 'We have to recognize that this is going to be extraordinarily difficult to solve. All of the simple low hanging fruits have been picked and the presumption that we are going to resolve the big issue on spending by making a few little twitches here and there I think is a little naive. If we get out of this with a moderate recession, I would say that the price is very cheap. The presumption that we will solve this problem without paying I think is grossly inappropriate'. On Simpson and Bowles saying that the markets could crash if a deal isn't made 'I think it is not only Simpson-Bowles. I think the markets are getting very shaky. And they are getting shaky because I think fiscal policy is out of control. And I think the markets will crater if we run into any evidence that we cannot solve this problem. And I think the notion that the issue of the impact on the economy is strictly the spending tax issue, is also the market. I think we underestimate the extent to which the market value of assets has a very important impact on real GDP'. On whether the U.S. is headed into a recession even if a deal is made