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.
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 exposé reveals, the bear has finally caught up with Goldilocks.
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:
- The stock market crash of 1987
- The Savings & 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
Fleckenstein explains just how far-reaching Greenspan's mess has been flung, and presents damning evidence that contradicts the former Fed chief's public naiveté 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.
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.
|Grouped Work ID||67aaba8b-9fb2-5a33-9d6d-d3fb4d9eb0f7|
|full_title||greenspan s bubbles|
|author||fleckenstein william a|
|author||Fleckenstein, William A.|
|author_display||Fleckenstein, William A|
|detailed_location_arlington||Central Adult Nonfiction|
|item_details||ils:.b13055033|.i13286250|Central Adult Nonfiction|332.11 FLECK|||1|false|false|||||On Shelf|Jan 30, 2016|can|||
|owning_library_arlington||Arlington Public Library, Aurora Hills, Central, Cherrydale, Columbia Pike, Connection Crystal City, Detention Center, Glencarlyn, Local History, Plaza, Shirlington, Westover|
|record_details||ils:.b13055033|Book|Books||English|McGraw-Hill,|2008.|x, 194 p. : ill. ; 21 cm.|
|scoping_details_arlington||ils:.b13055033|.i13286250|On Shelf|On Shelf|false|true|true|false|false|true|999||||
|subject_facet||United States -- Economic policy|
|title_full||Greenspan's bubbles / by Bill Fleckenstein with Fred Sheehan|