Jim Grant of Interest Rate Observer lambasted former Fed Chairman Alan Greenspan on Bloomberg Television for his less than complete testimony in front of today’s Financial Crisis Inquiry Commission hearing.
- 0:15 Greenspan needs to be liked, “He’s just a guy in a business suit”
- 1:03 Greenspan might say he is against central planning, but he actually loves it via setting interest rates
- 3:00 Greenspan seen as a saviour via his rate, encouraged risk
- 3:50 Greenspan came in as Ayn Rand’s acolyte, left as a panderer to power
- 6:25 The way Greenspan thinks is as a theoretical economist, and he disdains those financial thinkers who believe they were right
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