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Books : GREENSPAN'S BUBBLES: THE AGE OF IGNORANCE AT THE FEDERAL RESERVE |
List Price: $21.95Amazon.com's Price: $14.93 You Save: $7.02 (32%)Prices subject to change.
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Binding: Hardcover
Dewey Decimal Number: 332.11092
EAN: 9780071591584
ISBN: 0071591583
Label: McGraw-Hill
Manufacturer: McGraw-Hill
Number Of Items: 1
Number Of Pages: 208
Publication Date: January 16, 2008
Publisher: McGraw-Hill
Studio: McGraw-Hill
Sales Rank: 13400
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Editorial Review:
Product Description:
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 expos� 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 And 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 naivet� 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.
. . .
Average Rating: 
Rating:  -
This book is a disappointment. For the happy few it might be an interesting read, but for someone intereted in the general ramifications of the Greenspan era it is a huge dissappointment.
The book seems to be a blow-by-blow vendetta of the author against Alan Greenspan. And while the author clearly has an authority on the whole subject, he fails to engage his reader by not clarifying the details on why he rants againts Greenspan. Sometimes too much knowledge can be a hindrance.
Rating:  -
This is a truly invaluable book. Fleckenstein shows,beyond any doubt, that Alan Greenspan has been a disaster for the country and the economy. Even before becoming Fed chairman, Greenspan had demonstrated his incompetence (Read the beginning where Greenspan's predictions as one of President Ford's advisers would drastically miss the mark). Unfortunately, Greenspan would be confirmed as Fed chairman and begin a nearly twenty year career of gross mismanagement.
Fleckenstein quotes Greenspan ... Read More
Rating: -
Greenspan will be forever linked to the global financial meltdown of 2008. History will not be kind to the Bubble Boy.
Rating: -
In this fascinating book, financial journalist William Fleckenstein studies the record of Alan Greenspan, chairman of the Federal Reserve from 1987 to 2006.
Between 1937 and 1987 there were no bubbles, but Greenspan helped to create two bubbles in ten years - in stocks and then in real estate - by holding interest rates too low, punishing savers. He helped to make the American people worse off by redistributing wealth to the rich, the bubbles' boosters and sponsors.
Greenspan viewed ... Read More
Rating:  -
The author attacks Alan Greenspan for setting interest rates too low and thus causing all out economic problems. Why did Greenspan do this? He did not see the bubbles (that he himself created) because he was blinded by the "concept of technological driven productivity miracles." The author repeats this idea many many times. But from reading the first five pages you might wonder if Mr. Fleckenstein is the best person to launch a bubble attack like this. On page 3 the author leads you to note 2 (page 189) where ... Read More
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