John Paulson and Alan Greenspan gave an interview that disappointed a packed audience at NYU last night, according to NYU news.A scene from Greenspan’s interview with Paulson in front of the NYU audience:
Greenspan brought up the fateful day in September 2008 when the Dow Jones industrial average plunged 6.98 per cent. However, life picked up for him after the initial shock.
“The morning after we learned of the news,” he said, “I was able to look myself in the mirror and say, ‘Hey, not bad.'”
Another scene in which Greenspan’s answers border on offensively simplistic:
“There is general worry about the decline in U.S. economic global leadership,” Paulson said. “Do you still have confidence in the future of the United States?”
Greenspan responded: “Whenever I get gloomy, I think of Winston Churchill: ‘America always does the right things … after it has tried every other viable alternative.'”
And here’s Greenspan’s explanation for why it’s been what Paulson called a “tepid” recovery:
“What I’d suggest is that we calm down; let the economy heal by itself,” he said. “But we are doing better now with the halting of more stimului and programs like ‘Cash for Clunkers.”
Are we halting stimulus? That’s news to us.
NYU students, not surprisingly, were disappointed with the answers.
An MBA student told NYU news:
“I wished the questions could have been unique and that there would be more discussion, but I definitely enjoyed this opportunity to see him in person.”
Luckily, Paulson threw in a couple of crowd-pleasers. Click here to read the one-liners Paulson dropped >