Alan greenspan funny

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Latest Issue. Past Issues. This article is from the archive of our partner. It starts out pretty dry. Greenspan argues, in effect, that the Dodd-Frank financial regulation act is a bad idea, because 21st-century financial systems are really, really complicated. Greenspan also complains that "regulators are being entrusted with forecasting, and presumably preventing, all undesirable repercussions that might happen to a market when its regulatory conditions are importantly altered. We should just leave it up to the free market, because "with notably rare exceptions , for example , the global 'invisible hand' has created relatively stable exchange rates, interest rates, prices, and wage rates.

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When Mr. Greenspan dispensed advice on matters economic — interest rates, budget and tax policies, entitlements, the stock market, the best kind of mortgage — people listened. As a rule, Mr. Greenspan, a Republican by temperament and background who was reappointed twice by Bill Clinton, adhered closely to Republican orthodoxy on taxes: the lower the better. Greenspan was hardly a proponent of raising taxes on energy to encourage conservation, a policy prescription generally associated with the politicians and economists of the left.