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Greenspan's Bubbles

The Age of Ignorance at the Federal Reserve

by William Fleckenstein and Fred Sheehan

		Publisher: McGraw-Hill Companies Pub. Date: 2008 ISBN: 9780071591584 No. pages: 208 Category: Economics & Politics

In this summary you will learn

How Alan Greenspan’s career in finance evolved
How he equivocated prior to his appointment to chair the Federal Reserve
What Greenspan did as Fed chair
Why Greenspan’s legacy is a costly catastrophe

Why you should read Greenspan's Bubbles

This book states the argument of those who oppose Alan Greenspan, the former chair of the U.S. Federal Reserve. William A. Fleckenstein and Frederick Sheehan, who sometimes seem to go a bit over the top in the intensity of their attacks, write that Greenspan, despite his reputation, was no “maestro.” Instead, they report he was a poor manager with a habit of either deception or self-delusion. The authors support their argument by drawing heavily on extensive quotations from Greenspan’s testimony before Congress and on minutes of the Federal Reserve Open Market Committee meetings. Although getAbstract might wish for less fervor in this presentation, it forwards this book to policy makers, financial services executives and others who wish to understand the downside of Greenspan’s policies and how he may have contributed to the U.S. economy’s current dilemma.

About the Authors

William A. Fleckenstein is president of a money management firm in Seattle. Frederick Sheehan is former director of asset allocation services at a financial services company.

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Overall		(7)
Applicability		(8)
Innovation		(7)
Style		(7)

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Level

(3)

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