Greenspan: Hero or Hack?

If you take your cues from the major news media**, insofar as forming your disposition toward the Federal Reserve leadership of Alan Greenspan, you've undoubtedly believed him a savior of sorts. Bill Clinton certainly loved the man openly (albeit one of many instances of open-love in the Clinton years). Many of my officemates still talk glowingly of the heady days of Clinton and Greenspan: the mid-to-late 90s.

There are those, however, who take serious issue with this supposition - the link between excellent fiscal policy and the name Alan Greenspan. One of those is Bill Fleckenstein, who is a contrarian in more than his choice of hairstyle (C'mon, Bill, ditch the modified-mullet!). Fleckenstein starts out:

Alan Greenspan gave a speech recently titled "Economic Flexibility." It should have been called "Damn, I'm Good," because the world's biggest serial bubble blower -- and most incompetent, irresponsible Fed chairman of all time -- tried to rewrite history. My column today will endeavor to set the record straight.

Check out his article for supporting evidence from this reasonable nut.

** - I rather doubt that if you are reading Reasonable Nuts that you take such cues from the mainstream media.