Submitted by Tim, Sep 17, 2007 01:53

I have a B.S. in Business Admin-Finance. I was a stockbroker during the 21 percent prime days of Vocker/Carter. In my mind, Greenspan did his job exceptionally well by maintaining an orderly financial environment despite the uneducated and/or unethical actions of those in the Executive and Legislative branches. No doubt, fiscal policy is difficult enough without well-dressed duly-elected con-men continuously confusing the mix. If Greenspan is blamed for the housing boom then who is to blame for the one that occurred before his tenure. I think that, more likely, the banks as usual, about every 20-30 years or so, combined with the new slavers in construction, empowered by cheap Mexican labor, deserve the lion's share of creating the latest bubble in mortgage fantasy. The dot.com bust should be obvious to anyone with a modicum of intelligence. The web was new and poorly understood but nobody wanted to be left at the dock so, as in any market, frenzy overran common sense and many became convinced that a website was magically somehow much more than just a dot in an immense electronic sky.

In short, if your looking for something or someone to believe in, then, I think Greenspan should be seriously considered. He served his country well by doing his job well. That is very rare nowadays. Very rare indeed.

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