Letters to the Editor

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Why is a book promotion blitz getting the same royal treatment his utterances as Fed chairman received?
  • The media wasn't all in thrall to Alan "Howard Roark" Greenspan

    Seriously, though, that's why I read The Economist. They spent a lot of his tenure blaming him for inflating bubbles, etc, and at least airing the possibility that he was storing up trouble for later. I think most in the liberal blogosphere might find the magazine a bit right-leaning (and outspoken) for their taste (and I'd say that Lexington is definitely a conservative voice), but on the whole there is a lot more nuance there than one gets in the US-based press.

    Plus of course Greenspan was pushing ARMs--the more people have ARMs, the easier it is for a central bank to control the economy through interest rates. Imagine how much of an impact he could have if whenever he raised rates, everyone's mortgage rate went up...