[lbo-talk] Greenspan a hack

Marta Russell ap888 at lafn.org
Sat Feb 19 14:09:21 PST 2005


It's encouraging to see Greenspan referred to as a "hack" in the NYT. Marta

New York Times February 18, 2005 OP-ED COLUMNIST

Three-Card Maestro By PAUL KRUGMAN

lan Greenspan just did it again.

Four years ago, the Fed chairman lent crucial political support to the Bush tax cuts. He didn't specifically endorse the administration's plan, and if you read his testimony carefully, it contained caveats and cautions. But that didn't matter; the headlines trumpeted Mr. Greenspan's support, and legislation whose prospects had previously seemed dubious sailed through Congress.

On Wednesday Mr. Greenspan endorsed Social Security privatization. But there's a difference between 2001 and 2005. In 2001, Mr. Greenspan offered a convoluted, implausible justification for supporting everything the Bush administration wanted. This time, he offered no justification at all.

http://www.nytimes.com/2005/02/18/opinion/18krugman.html?pagewanted=print&position=

-- Marta Russell Los Angeles, CA http://www.martarussell.com/



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