Greenspan: Fed not to blame in housing crash

Home-price declines a possible U.S. Achilles' heel

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WASHINGTON — Since the end of his tenure as chairman of the Federal Reserve in 2006, Alan Greenspan has been harshly criticized in many quarters for failing to predict the monumental collapse of the housing market that began under his watch.

Speaking at a Real Estate Summit Tuesday during a National Association of Realtors annual midyear conference at the Marriott Wardman Park Hotel, Greenspan hit back, and denounced a "recalibration of financial history that I find very puzzling."