GREENSPAN'S BUBBLES: THE AGE OF IGNORANCE AT THE FEDERAL RESERVE: The Age of Ignorance at the Federal Reserve by William Fleckenstein

GREENSPAN'S BUBBLES: THE AGE OF IGNORANCE AT THE FEDERAL RESERVE: The Age of Ignorance at the…

byWilliam Fleckenstein, Frederick Sheehan

Hardcover | February 6, 2008

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No matter who you are-investor, trader, homeowner, 401(k) holder, or CEO-you are bound to feel the impact of Alan Greenspan's “Age of Ignorance” for years to come.

According to MSN Money columnist William A. Fleckenstein, Greenspan's nearly 19-year career as Federal Reserve Chairman is even worse than anyone imagined. Labeled “Mr. Bubble” by the New York Times, Greenspan was nothing less than a serial bubble blower with a long history of bad decision-making. His famous “Greenspan Put” fueled the perception of a Goldilocks economy-but, as this explosive exposé reveals, the bear has finally caught up with Goldilocks.

Using transcripts of Greenspan's FOMC meetings as well as testimony before Congress, this eye-opening book delivers a timeline of his most devastating mistakes and weaves together the connection between every economic calamity of the past 19 years:

  • The stock market crash of 1987
  • The Savings & Loan crisis
  • The collapse of Long Term Capital Management
  • The tech bubble of 2000
  • The feared Y2K disaster
  • The credit bubble and real estate crisis of 2007

    Fleckenstein explains just how far-reaching Greenspan's mess has been flung, and presents damning evidence that contradicts the former Fed chief's public naiveté concerning shifts in the market and economy. He also points to a disturbing fact, that throughout his career, Greenspan not only made costly mistakes, but made the same ones-over and over again. And not only was he never able to recognize or admit to those mistakes, he constantly rewrote his own history to justify them.

    Greenspan's Bubbles offers a lock-stock-and-barrel portrait of a flawed but fascinating man whose words and actions have led a whole generation astray, and whose legacy will continue to challenge us in the years ahead.

About The Author

William A. Fleckenstein is president of Fleckenstein Capital, a money management firm based in Seattle. He writes a daily Market Rap column for his Web site, Fleckensteincapital.com, as well as the popular column Contrarian Chronicles for MSN Money. Frederick Sheehan is a former Director of Asset Allocation Services at John Hanc...
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Title:GREENSPAN'S BUBBLES: THE AGE OF IGNORANCE AT THE FEDERAL RESERVE: The Age of Ignorance at the…Format:HardcoverDimensions:208 pages, 8.3 × 5.3 × 0.78 inPublished:February 6, 2008Publisher:McGraw-Hill EducationLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0071591583

ISBN - 13:9780071591584

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Table of Contents

Introduction:A True Accounting: The Greenspan Era (1987-2006)
Chapter 1: How Wrong Can One Man Be? (1973-1987)
Chapter 2:The Coronation of The Bubble King (1995-1997)
Chapter 3:The FOMC Meets the Greenspan Put -- and Yawns (1998-1999)
Chapter 4:Bubbleonians Running the Asylum: The Bubble Blow Off (1999-2000)
Chapter 5: The Stock Bubble Bursts: The Tech Miracle Was a Mirage (2000-2001)
Chapter 6: Home Sweet Home: Housing Saves Us from the Stock Bubble (2001-2003)
Chapter 7: The Housing Hot Potato: The Real Estate Bubble Fuels the ATM(2003-2007)
Conclusion: The Consequences of the Loss of Fear (2007 and Beyond)