20
Feb
2005

Three-Card Maestro: Alan Greenspan just did it again

It didn't look to me like Alan Greenspan was getting the attention he should have, based on his cryptic all-things-to-all-people interview. But you can't fool Krugman, and he took him right on:

Three-Card Maestro

by PAUL KRUGMAN

OP-ED COLUMNIST New York Times

Published: February 18, 2005

Alan Greenspan just did it again.

Four years ago, the Fed chairman lent crucial political support to the Bush tax cuts. He didn't specifically endorse the administration's plan, and if you read his testimony carefully, it contained caveats and cautions. But that didn't matter; the headlines trumpeted Mr. Greenspan's support, and legislation whose prospects had previously seemed dubious sailed through Congress.

On Wednesday Mr. Greenspan endorsed Social Security privatization. But there's a difference between 2001 and 2005. In 2001, Mr. Greenspan offered a convoluted, implausible justification for supporting everything the Bush administration wanted. This time, he offered no justification at all. ... Read the rest at
//www.nytimes.com/2005/02/18/opinion/18krugman.html


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