In a withering critique of his fellow Republicans, former Federal Reserve Chairman Alan Greenspan says in his memoir that the party to which he has belonged all his life deserved to lose power last year for forsaking its small-government principles.
In "The Age of Turbulence: Adventures in a New World," published by Penguin Press, Mr. Greenspan criticizes both congressional Republicans and President George W. Bush for abandoning fiscal discipline.
The book is scheduled for public release Monday. The Wall Street Journal bought a copy at a bookstore in the New York area.
http://online.wsj.com/article/SB118978549183327730.html?mod=hpp_us_whats_news
Greenspan Book Criticizes Bush
Discussion in 'Political Debate & Discussion' started by Ps104_33, Sep 14, 2007.
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He's 100% right.
No pun intended. -
Since Mr. Greenspan's political philosophy is libertarianism I am not surprised that the Republican Party's head-first lunge into Big Government policies caused him consternation.
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Yup, can't argue with that.
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Considering that many of Greenspan's policies are Keynesian in nature and many of his actions have reinforced the nanny status people assume regarding the Fed, I find his criticism to be somewhat disingenuous. His admission yesterday that he never fully understood subprime mortgages, let alone their impact, makes me scratch my head about a man I once respected highly. I look forward to reading the book, because now I wonder what else he's going to say that makes me wonder about his true moorings.
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For a guy that came out strong against statism working for statists seemed to give him little pause. I've always figured they got to him somehow. Money and power most likely.