More on the bad and the good chairs of the Federal Reserve: From the book review by Steven Pearlstein, a business and economics columnist for The Washington Post and a Robinson professor of political and international affairs at George Mason University, we see how Alan Greenspan contributed to the Bush Great Recession. Those who have followed his career know that it was Greenspan who gave the green light to bank consolidation, Greenspan who pushed financial deregulation, Greenspan who advocated new global rules that would have reduced bank capital reserves and Greenspan who blocked efforts to crack down on abusive subprime lending. But if you are looking for him to accept any responsibility for the crisis that ensued, you will be sorely disappointed. It is the good fortune for the economy of our nation and the world, that we have had Ben Bernanke and Janet Yellen leading the Fed -- Bernanke since 2006 and Yellen as Vice-Chair since 2010 and nominated October 9, 2013 to replace Bernanke as Chair. SOURCE: washingtonpost/opinions/alan-greenspan-still-thinks-hes-right/2013/10/18/5408f54a-29f0-11e3-b139-029811dbb57f_print.html
Posted on: Sun, 20 Oct 2013 21:15:26 +0000
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