No matter who you are-investor, trader, homeowner, 401(k) holder, or CEO-you are bound to feel the impact of Alan Greenspan's �Age of Ignorance� for years to come.
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According to MSN Money columnist William A. Fleckenstein, Greenspan's nearly 19-year career as Federal Reserve Chairman is even worse than anyone imagined. Labeled �Mr. Bubble� by the New York Times, Greenspan was nothing less than a serial bubble blower with a long history of bad decision-making. His famous �Greenspan Put� fueled the perception of a Goldilocks economy-but, as this explosive expos� reveals, the bear has finally caught up with Goldilocks.
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Using transcripts of Greenspan's FOMC meetings as well as testimony before Congress, this eye-opening book delivers a timeline of his most devastating mistakes and weaves together the connection between every economic calamity of the past 19 years:
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The stock market crash of 1987.
The Savings And Loan crisis.
The collapse of Long Term Capital Management.
The tech bubble of 2000.
The feared Y2K disaster.
The credit bubble and real estate crisis of 2007.
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Fleckenstein explains just how far-reaching Greenspan's mess has been flung, and presents damning evidence that contradicts the former Fed chief's public naivet� concerning shifts in the market and economy. He also points to a disturbing fact, that throughout his career, Greenspan not only made costly mistakes, but made the same ones-over and over again. And not only was he never able to recognize or admit to those mistakes, he constantly rewrote his own history to justify them.
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Greenspan's Bubbles offers a lock-stock-and-barrel portrait of a flawed but fascinating man whose words and actions have led a whole generation astray, and whose legacy will continue to challenge us in the years ahead.
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Customer Reviews
Average Rating:
Rating: - Feels like a personal vendetta
This book is a disappointment. For the happy few it might be an interesting read, but for someone intereted in the general ramifications of the Greenspan era it is a huge dissappointment.
The book ... Read More
Rating: - Devastating indictment of Alan Greenspan's ineptitude
This is a truly invaluable book. Fleckenstein shows,beyond any doubt, that Alan Greenspan has been a disaster for the country and the economy. Even before becoming Fed chairman, Greenspan had demonstrated ... Read More
Rating: - The 1 trillion $$$ bailout is Greenspan's legacy
Greenspan will be forever linked to the global financial meltdown of 2008. History will not be kind to the Bubble Boy.
Rating: - Brilliant study of a failed system
In this fascinating book, financial journalist William Fleckenstein studies the record of Alan Greenspan, chairman of the Federal Reserve from 1987 to 2006.
Rating: - Bad forecaster attacks FOMC's failure to forecast
The author attacks Alan Greenspan for setting interest rates too low and thus causing all out economic problems. Why did Greenspan do this? He did not see the bubbles (that he himself created) because he ... Read More
- Feels like a personal vendetta
- Devastating indictment of Alan Greenspan's ineptitude
- Bad forecaster attacks FOMC's failure to forecast