< HOME  Thursday, December 29, 2005

media massages greenspan's legacy

Greenspan is on his way out and his comrades are paying him cautious tribute.
"Deficits 'could' harm Greenspan's legacy"
IMHO, Greenspan's legacy cannot possibly get worse.
"He has guided the responses to the stock market crash of 1987, the emerging market crisis of the 1990s, the dotcom bubble of 2000 and the 9/11 attacks."
Drop "the responses to" from that statement and it would be accurate.
His wife says, "[Greenspan's] going to write. He has many ideas about how economies work and free markets."
Could've fooled me.
"Mr Greenspan himself has not given a broadcast interview since 1987, the year he took over at the Federal Reserve."
That's because he can't lie with a straight face.
Just two months into the job, he faced the stock market crash of 1987.
Coincidence? I don't think so.
[The Federal Reserve works] in calming the nerves of banks and securities dealers...Greenspan [is] a master craftsman, the central banker's central banker."
Funny, I thought he was appointed to serve the interests of the American economy, as a whole.
Mr Greenspan [pioneered] an insight into new forces changing the US economy: the rise in productivity. American workers, backed by the resources of the information technology revolution, were producing goods and services much more efficiently than before.
Of course Greenspan, always one step ahead of labor, increased interest rates, so that only central bankers would benefit from increased productivity.
[Finally,] Greenspan's support for the tax cuts of President George W Bush in 2001 . . . is faulted by Greenspan critics [as exacerbating the deficit]. . . even though the fiscal deficit and balance of payments are not his direct responsibility.
Not his responsbility?!! Not his responsbility?!!

Who in the hell wrote this review?!!
The former "deputy governor of the Bank of England," who also happens to serve on the board of Morgan Stanley.
Birds of a feather.

3 Comments:

At Thursday, December 29, 2005, Anonymous Doc said...

He gave us all grief,
He's the commander in thief!

 
At Friday, December 30, 2005, Blogger qrswave said...

LOL

:)

 
At Friday, December 30, 2005, Blogger cyclone said...

qrswave,

Don't you already know that it's all my fault?

Cyclone

 

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