"This is the worst period I recall since I've been in public service. There's nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems," Mr. Greenspan told CNBC. "This has a corrosive effect that is not easy to go away."
Alan Greenspan, financial guru and former chairman of the Fed, once said that “the number one problem in today's generation and economy is the lack of financial literacy.” Why is financial literacy so important?