Today's WSJ lead editorial: "In 2003 Alan Greenspan and a certain new governor named Ben Bernanke cited deflation risks to justify holding the fed funds rate at 1% for an entire yeareven though as the economy was accelerating. This was the original sin that did so much to produce the housing bubble and financial bubble."
p1sorell, I agree with you.....Greenspan would make a better English language teacher , rather than an economist.
I can never get over when he raised inters rates by fifty basis , during Clintons end of second term...he reason was that he could not understand the impact of an increased productivity on inflation....can a degree be rescinded?.
Also who can forget, his remarks we should not be scared of 3 to 5 yrs. mortgages....he was the etiology of the real-estate bubble , along with loose lending policy at low rates