Alan Greenspan: Financial crisis probability was small
21 October 2013 Last updated at 10:35 BST
Alan Greenspan - former chairman of the federal reserve in the United States - has written a book about the world economy and the mistakes that led to the financial crisis.
Speaking to the Today programme's Evan Davis, Mr Greenspan said: "Everybody knew that there was a problem. This was the first time ever that markets were broken and could not fix themselves
"I would have said the probability of that happening at that particular time was extremely small."
First broadcast on the Today programme on Monday 21 October.