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| Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve | 
 enlarge | Authors: William Fleckenstein, Fred Sheehan
Publisher: McGraw-Hill
Category: Book
List Price: $21.95
Buy New: $11.92
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Avg. Customer Rating:  (39 reviews)
Sales Rank: 8893
Languages: English (Original Language), English (Unknown), English (Published)
Media: Hardcover
Edition: 1
Number Of Items: 1
Pages: 208
Shipping Weight (lbs): 0.9
Dimensions (in): 8 x 5.3 x 0.9
ISBN: 0071591583
Dewey Decimal Number: 332.11092
EAN: 9780071591584
ASIN: 0071591583
Publication Date: January 16, 2008
Availability: Usually ships in 1-2 business days
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| Customer Reviews:
The Mystery of Alan Greenspan July 16, 2008
2 out of 2 found this review helpful
In fall 1999, six months before tech stocks went into free-fall, the bestselling book "The Internet Bubble" was published. In it, the authors described how the financial foodchain of entrepreneur, venture capitalist, investment banker, and public stock speculator created the tech bubble. The authors also did the math to show how grossly over-valued Internet companies were.
For most of this rampant speculation, Alan Greenspan was enabling the process by expanding the money supply and cutting interest rates. The authors of "Greenspan's Bubbles" document, in Greenspan's own words, why they think the Chairman was doing this. Greenspan's utterances--especially those behind the closed doors of the Federal Open Market Committee (FOMC) that the authors were able to access up until 2001--prove, the authors say, that it was because Greenspan drank the "new economy" Kool-Aid and thus didn't think there was a bubble.
Other critics feel that Greenspan's statements, both private and public, were merely a cover to try to maintain the legitimacy of the Fed as long as possible....
http://www.itulip.com/forums/showthread.php?p=2405#poststop
Readers will have to decide which theory they find most feasible.
 You Can't Dispute the Facts Provided in the Book July 6, 2008
1 out of 1 found this review helpful
Shocking!! Great facts supporting the book. Truly shocking to see how irresponsible Greenspan acted in cuting rates when there was no evidence to support these cuts. From this book you can understand how Greenspan's ego created long term troubles for the US economy which could have resulted in shorter recessions. He even encourages fellow Americans to seek adjustable rate mortages (p. 155). Unbeleivable!!!
Greenspan: Idiot or economic charlatan? June 28, 2008
1 out of 1 found this review helpful
This book is hardly cozy, bedtime reading, but its short length (194 pgs.)
makes it fast reading. Author Fleckenstein takes the former Fed Chairman's public pronouncements over the course of the 1980s into the 2000s, and contrasts them with the Chairman's statements during Fed deliberations from the same period, the transcrips of which have recently
been releassed. In my opinion the result shows that Greenspan's reckless policies are directly responsible for the recently-popped lending and housing bubbles that we'll all end up paying for via monetary inflation.
Reading this book (among others) makes me want to move to Switzerland where I can be out of reach of results of inflationary Congressional action about to take place to bail out builders, borrowers and bankers.
Very good recap of the Greenspan follies June 28, 2008
Quick and easy read, I knocked it out in one night. I could not put it down once I got started. The book only furthers my opinion that it is time for the abolishment of the Federal Reserve. It is time to put Mr. Greenspan on trial for the crimes he has committed against American Citizens.
The condemnation of Alan Greenspan, in brief. June 23, 2008
1 out of 2 found this review helpful
This book states the argument of those who oppose Alan Greenspan, the former chair of the U.S. Federal Reserve. William A. Fleckenstein and Frederick Sheehan, who sometimes seem to go a bit over the top in the intensity of their attacks, write that Greenspan, despite his reputation, was no "maestro." Instead, they report he was a poor manager with a habit of either deception or self-delusion. The authors support their argument by drawing heavily on extensive quotations from Greenspan's testimony before Congress and on minutes of the Federal Reserve Open Market Committee meetings. Although getAbstract might wish for less fervor in this presentation, it forwards this book to policy makers, financial services executives and others who wish to understand the downside of Greenspan's policies and how he may have contributed to the U.S. economy's current dilemma.
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