Original sentence: " Krugman also argued that, "If we do have a housing bubble, and it bursts, we'll be looking a lot too Japanese for comfort" (referring to the Japanese 'lost decade' of slow growth in the 1990s).And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.In August 2002, he wrote that, "To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment.Krugman advocated for radical currency controls as a response to the 1997 Asian financial crisis saying "never in the course of economic events- note even in the early years of the (Great) Depression- has so large a part of the world economy experienced so decastating a fall from grace.The economies rebounded within two years, but only one country adopted currency controls
Edited sentence: Greenspan has since admitted fault in Congressional testimony of allowing the self-regulation of Wall Street investment banks as being complicit in the subprime crisis