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What bothered me most about the author was he constantly criticized a persons job which is very difficult and requires much guessing. It was Clinton who planted the seeds to start this bubble several years before the bubble got its start.
Even though I have not seen a book written yet discussing the real cause of the housing bubble, the best one would include Clinton's name numerous times. However, the author fails to mention anything about the Presidents "devious deeds".
The greatest benefit of this book is an understanding of how difficult the head job at the Federal Reserve can be. If I were to place most blame on one person I would choose President Bill Clinton.
Since the Fed is considered one of the most "secretive" institutions in our country, sometimes I found it difficult to believe the author really had reliable info to present to the readers.
Another serious problem is the author seems to assume Greenspan is almost solely responsible for the bubble.
While there are numerous assertions in the book, I found it lacking in economic theory and academic rigor. Personally I thank Greenspan for the disposable income to buy this book. I am saddened that the author has based his career upon attacking another man's legacy. To say that the Greenspan years of tame inflation and economic prosperity were bad for America and the world as a whole is somewhat of a stretch. I am also thankful that I bought it used. The first chapter is entitled "How wrong can one man be.". I would propose that Fleckenstein ask himself this question each morning when he looks into the mirror.
More data, more description - less "I was right all along" would have made the book more informative. I enjoyed this book, but it seemed there was just a little too much "I told you so, and Greenspan was wrong" approach to the topic.
Must read to understand the destruction caused by the Fed's financial engineering and the effects on the American worker and middle class. 2nd hand book arived before promised date and in immaculate condition.The truth about Greenspan and the Fed at last - the Fed since inception and in particular Greenspan have caused Americas demise.
Fleckenstein has a bone to pick with Greenspan and justifies his grudge quite well. From stock market crashes, to savings & loan crises, to even the Y2K crisis, author William A. "Greenspan's Bubbles" is well worth the read for a look at a larger picture surrounding the current economic crisis. With the recent economic chaos, some blame undoubtedly falls on Alan Greenspan. "Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve" is an indictment of Greenspan's career as head of the Federal Reserve, revealing how his shoddy decision making may have ruined economics almost to a personal level for decades to come.
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