Jim Grant lambasts Greenspan

By Prieur du Plessis, on April 8th, 2010 posted in: Investment, Markets, Money Leave your comment

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James Grant, editor of Grant’s Interest Rate Observer, talks with Bloomberg about former Fed Chairman Alan Greenspan, specifically about testimony by the “Maestro” in front of the Financial Crisis Inquiry Commission hearing. (Click here to listen to Grant’s interview of last week about the credit quality of US Treasuries.)

Here is the video schedule:

0:15 Greenspan needs to be liked, “He’s just a guy in a business suit”

1:03 Greenspan might say he is against central planning, but he actually loves it via setting interest rates

3:00 Greenspan seen as a savior via his rate, encouraged risk

3:50 Greenspan came in as Ayn Rand’s acolyte, left as a panderer to power

6:25 The way Greenspan thinks is as a theoretical economist, and he disdains those financial thinkers who believe they were right

Source: Bloomberg (via YouTube), April 7, 2010 (hat tip: Clusterstock – Business Insider).

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