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-letter||Fleckenstein, William A.|
|author_additional||by Bill Fleckenstein with Fred Sheehan.|
|author_display||Fleckenstein, William A|
|availability_toggle_arlington||Available Now, Entire Collection|
|callnumber-first||H - Social Science|
|callnumber-subject||HB - Economic Theory and Demography|
|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|
|physical||x, 194 p. : ill. ; 21 cm.|
|record_details||ils:.b13055033|Book|Books||English|McGraw-Hill,|2008.|x, 194 p. : ill. ; 21 cm.|
|scope_has_related_records||a, arlington, c, d, g, h, o, p, s, u, v, w|
|scoping_details_arlington||ils:.b13055033|.i13286250|On Shelf|On Shelf|false|true|true|false|false|true|999||||
|subject_facet||United States -- Economic policy|
|table_of_contents||A true accounting : the Greenspan era (1987-2006) -- How wrong can one man be? (1973-1987) -- The coronation of the Bubble King (1995-1997) -- The FOMC meets the Greenspan put--and yawns (1998-1999) -- Bubbleonians running the asylum : the bubble blow off (1999-2000) -- The stock bubble bursts : the tech miracle was a mirage (2000-2001) -- Home sweet home : housing saves us from the stock bubble (2001-2003) -- The housing hot potato : the real estate bubble fuels the ATM -- (2003-2007) -- The consequences of the loss of fear (2007 and beyond).|
|title_full||Greenspan's bubbles / by Bill Fleckenstein with Fred Sheehan|