The failed regulator is now happy to put forward proposals that he thinks have no chance of implementation. Greenspan played the jester, but Jon Stewart was not amused.
What is there to say about Alan Greenspan, who at 87 is out flogging his new book, "The Map and the Territory: Risk, Human Nature and the Future of Fo...
Little about Washington surprises me, but one thing I could not figure out is why President Obama wants Larry Summers as Fed Chair when Summers is the worst possible candidate for the job, except maybe for Alan Greenspan?
Commodity market manipulation is fundamentally different and far more dangerous than the garden-variety manipulation of financial markets such as in single stock pump and dump schemes, or even the brazen manipulation of LIBOR. Nobody eats LIBOR.
On Saturday, President Obama stated that he wants the next chairman of the Federal Reserve to not just be an economic wonk but to actively promote policies that will advance the welfare of ordinary citizens. He may as well have described the resume of Robert Reich.
There are worse things in life than terrible phone manners, imperiousness and excessive confidence, but these traits have just become more relevant amid the disclosures that Larry Summers appears to be the front-runner to take over as Federal Reserve chairman assuming Ben Bernanke steps down early next year.
As a man mired so deeply in Greenspan Economics, Summers is simply not capable of recognizing the dangers of letting the banking industry run fast and loose, or of grasping the wisdom of regulated capitalism.
It does look like the results of Fed Chairman Bernanke's push for greater transparency in Federal Reserve policy deliberations are coming home to roos...
Now the fat's in the fire. Both stocks and bond prices have been falling of late, due to the fear that the Fed will end its $85 billion per month QE ...
There are plenty of places around the globe where the private sector isn't burdened by regulation. Like Bangladesh, where under-regulated factory operations yield cheap clothing at the price of human life. Or China, where you can't ever be quite sure what you're eating and whether it will poison you.
While the pre-recession U.S. ignored growing structural imbalances in the real estate sector, financial markets, and external trade relations, the Philippine government is obsessed with emphasizing the boom in the stock markets, real estate and foreign exchange reserves.
Bernanke and most of his colleagues say they are fighting unemployment and see no inflation. They actually may be targeting stagflation: high unemployment and high inflation.
Why is David Stockman driving everyone crazy? The shoot-the-messenger frenzy that has greeted Sunday's New York Times op-ed by Ronald Reagan's former budget director leaves one searching for the message that has so unhinged his critics.
How can we explain why both under Bush and Obama, Wall Street has grown even larger -- so large that even Eric Holder admits they are too big to prosecute?
Isn't $3 trillion already on their books too much? Not really, when you look at what even Fed Chairman Bernanke's predecessor, wily Alan Greenspan (master of do what I say, not what I do), was able to engineer during his almost 20-year tenure. How did he do it?
To help high school students better understand the underlying economic issues I prepared a "mock debate" between Alan Greenspan and Paul Krugman.