Fed’s Ex-Chief Attacks Bush on Fiscal Role By EDMUND L. ANDREWS and DAVID E. SANGER
WASHINGTON, Sept. 14 — Alan Greenspan, who was chairman of the Federal Reserve for nearly two decades, in a long-awaited memoir, is harshly critical of President Bush, Vice President Dick Cheney and the Republican-controlled Congress, as abandoning their party’s principles on spending and deficits.
In the 500-page book, “The Age of Turbulence: Adventures in a New World,” Mr. Greenspan describes the Bush administration as so captive to its own political operation that it paid little attention to fiscal discipline, and he described Mr. Bush’s first two Treasury secretaries, Paul H. O’Neill and John W. Snow, as essentially powerless.
Mr. Bush, he writes, was never willing to contain spending or veto bills that drove the country into deeper and deeper deficits, as Congress abandoned rules that required that the cost of tax cuts be offset by savings elsewhere. “The Republicans in Congress lost their way,” writes Mr. Greenspan, a self-described “libertarian Republican.”
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http://www.nytimes.com/2007/09/15/business/15greenspan.html?_r=1&th&emc=th&oref=login
Carl Remick wrote:
"[A tribute to Ayn Rand, who ranks with Barbara Cartland and Elinor Glyn as one of the most successful romance novelists of all time. (Fav quote here, from Rand devotee Alan Greenspan: "Parasites who persistently avoid either purpose or reason perish as they should.") ]"