Greenspan Talk

I am in the camp that ultra-low interest rates were the cause of the financial bubble and the Crisis of 2008. Mr. Greenspan was primarily responsible for this policy.

However, the following article that provides some quotes and a summary of a recent Greenspan speech has many good points:

Derby, Michael S., 2010. Greenspan: fiscal stimulus worked far less than expected. The Wall Street Journal, Sept. 15.

In future posts, I will be parsing and analyzing some of Mr. Greenspan's statements.

I think it is always good to remember that we all live in an extremely complex world. Often decision-makers are not 100% to blame for outcomes.

I think this is the case with Mr. Greenspan. There is some good and some bad.

[Also see the following post Greenspan Talk II]