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During the runup to the 2000 election, I was only half joking when I said "Greenspan for President." I gave him credit for guiding the economy out of a recession and having the stones to speak out about hard truths. His warning that "irrational" enthusiasm in the tech stocks could not be sustained was born out.
Where was he during this last administration in speaking out against reckless economic practices? As I recall, he was silent in our increasing war debt and opined that the bursting of a housing "bubble" would not have significant consequences. Both were serious mischaracterizations that I believe were driven by political considerations. His successor appears to have fallen into line, as well.
Greenspan's book strikes me as an attempt to polish his reputation by attributing blame elsewhere, much like George Tenant has done in his book. Both men have done great harm to our country and will likely never be held accountable for their actions or inaction.
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"You can't ignore politics, no matter how much you'd like to." Molly Ivins - 1944-2007
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