Frederick Sheehan is the co-author of Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve.
His new book, Panderer for Power: The True Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession, was published by McGraw-Hill in November 2009. He was Director of Asset Allocation Services at John Hancock Financial Services in Boston. In this capacity, he set investment policy and asset allocation for institutional pension plans.
“You’re wrong. She is a phony. But on the other hand you’re right. She isn’t a phony because she’s a real phony. She really believes all this crap she believes. You can’t talk her out of it…. She’s nuts.”
-Of Holly Golightly, from Truman Capote’s Breakfast at Tiffany’s (1958)
“While central planning may no longer be a credible form of economic organization, the intellectual battle for its rival – free-market capitalism – is far from won.”
“Anti-capitalist virulence appears strongest from those who confuse “crony capitalism” with free markets. Crony capitalism abounds when government leaders, usually in exchange for political support, routinely bestow favours on private-sector individuals or businesses. That is not capitalism. It is called corruption.”
-Former Federal Reserve Chairman Alan Greenspan,
GREENSPAN, who centrally controlled and underpriced the most over-leveraged interest rate in the world for 18 years and is now cashing in like a reality TV celebrity. Financial Times, January 30, 2012, under the fanciful title: “Meddle with the Market at Your Peril”