Catalogue

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Greenspan's bubbles : the age of ignorance at the Federal Reserve /
William A. Fleckenstein with FrederickSheehan.
imprint
New York : McGraw-Hill, 2008.
description
x, 194 p. : ill. ; 21 cm.
ISBN
0071591583 (alk. paper), 9780071591584 (alk. paper)
format(s)
Book
Holdings
More Details
added author
imprint
New York : McGraw-Hill, 2008.
isbn
0071591583 (alk. paper)
9780071591584 (alk. paper)
contents note
A true accounting : the Greenspan era (1987-2006) -- How wrong can one man be? (1973-1994) -- The Bubble King : the put is born (1995-1997) -- The FOMC meets the Greenspan put - and yawns (1998-1999) -- Bubbleonians running the asylum : the bubble blow-off (1999-2000) -- The stock bubble bursts : the tech miracle was a mirage (2000-2001) -- Home sweet home : housing saves us from the stock bubble (2001-2003) -- The housing hot potato : the real estate bubble fuels the ATM -- (2003-2007) -- The consequences of the loss of fear (2007 and beyond).
catalogue key
6336087
 
Includes bibliographical references.
A Look Inside
Summaries
Back Cover Copy
PRAISE FOR GREENSPAN'S BUBBLES "After reading Greenspan's Bubbles you will have no respect for the Fed! It's a must-read...in it, the authors demystify the belief that the Fed 'solves' problems when, in fact, it is directly responsible for a colossal destruction of wealth of the median household and of the U.S. currency through its irresponsible monetary policies." -Marc Faber, editor of the Gloom, Boom & Doom Report "Greenspan for Mt. Rushmore? Not if Bill Fleckenstein has anything to say about it." -James Grant, editor of Grant's Interest Rate Observer "In his typically engaging style, Bill Fleckenstein pops the Greenspan bubble...presenting compelling and convincing evidence that the former Fed chief got us into this mess..." -Herb Greenberg, Senior Columnist, MarketWatch.com "Before Ben Bernake shovels more cash into the U.S.'s money trap, he should read Greenspan's Bubbles , a damning account of how his predecessor inflated two asset bubbles that mutated into $11 trillion in home mortgage debt." --Bloomberg News "Alan Greenspan was dubbed history's greatest Federal Reserve chairman upon his retirement in 2006, but the housing bust is prompting renewed criticism of his laissez-faire brand of monetary policy. Hedge fund manager William Fleckenstein is among the loudest critics. Fleckenstein is the author of Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve. He views Greenspan's legacy as a litany of too-low-for-too-long interest rates that created the dot-com and housing bubbles." --US News & World Report "I suggest that you read Greenspan's Bubbles , a recent book by William Fleckenstein. It'll knock your socks off." -- Copley News Service
Back Cover Copy
PRAISE FOR GREENSPAN'S BUBBLES After reading Greenspan's Bubbles you will have no respect for the Fed! It's a must-read…in it, the authors demystify the belief that the Fed 'solves' problems when, in fact, it is directly responsible for a colossal destruction of wealth of the median household and of the U.S. currency through its irresponsible monetary policies. -Marc Faber, editor of the Gloom, Boom & Doom Report Greenspan for Mt. Rushmore? Not if Bill Fleckenstein has anything to say about it. -James Grant, editor of Grant's Interest Rate Observer In his typically engaging style, Bill Fleckenstein pops the Greenspan bubble…presenting compelling and convincing evidence that the former Fed chief got us into this mess... -Herb Greenberg, Senior Columnist, MarketWatch.com Before Ben Bernake shovels more cash into the U.S.'s money trap, he should read Greenspan's Bubbles , a damning account of how his predecessor inflated two asset bubbles that mutated into $11 trillion in home mortgage debt. --Bloomberg News Alan Greenspan was dubbed history's greatest Federal Reserve chairman upon his retirement in 2006, but the housing bust is prompting renewed criticism of his laissez-faire brand of monetary policy. Hedge fund manager William Fleckenstein is among the loudest critics. Fleckenstein is the author of Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve. He views Greenspan's legacy as a litany of too-low-for-too-long interest rates that created the dot-com and housing bubbles. --US News & World Report I suggest that you read Greenspan's Bubbles , a recent book by William Fleckenstein. It'll knock your socks off. -- Copley News Service
Back Cover Copy
PRAISE FORGREENSPAN'S BUBBLES"After readingGreenspan's Bubblesyou will have no respect for the Fed! It's a must-read...in it, the authors demystify the belief that the Fed 'solves' problems when, in fact, it is directly responsible for a colossal destruction of wealth of the median household and of the U.S. currency through its irresponsible monetary policies." -Marc Faber, editor of theGloom, Boom & Doom Report"Greenspan for Mt. Rushmore? Not if Bill Fleckenstein has anything to say about it." -James Grant, editor ofGrant's Interest Rate Observer"In his typically engaging style, Bill Fleckenstein pops the Greenspan bubble...presenting compelling and convincing evidence that the former Fed chief got us into this mess..." -Herb Greenberg, Senior Columnist, MarketWatch.com"Before Ben Bernake shovels more cash into the U.S.'s money trap, he should readGreenspan's Bubbles, a damning account of how his predecessor inflated two asset bubbles that mutated into $11 trillion in home mortgage debt." --Bloomberg News"Alan Greenspan was dubbed history's greatest Federal Reserve chairman upon his retirement in 2006, but the housing bust is prompting renewed criticism of his laissez-faire brand of monetary policy. Hedge fund manager William Fleckenstein is among the loudest critics. Fleckenstein is the author of Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve. He views Greenspan's legacy as a litany of too-low-for-too-long interest rates that created the dot-com and housing bubbles." --US News & World Report"I suggest that you readGreenspan's Bubbles, a recent book by William Fleckenstein. It'll knock your socks off." --Copley News Service
Back Cover Copy
PRAISE FORGREENSPAN'S BUBBLES"It's about time someone set the record straight! Fleckenstein chips away at Greenspan's overinflated record as Fed Chairman to reveal a legacy of lousy forecasts, poor judgment, and two huge asset bubbles. It's devastating or delicious, depending on whether you're Greenspan or the reader."-Caroline Baum, columnist,Bloomberg News"After readingGreenspan's Bubblesyou will have no respect for the Fed! It's a must-read...in it, the authors demystify the belief that the Fed 'solves' problems when, in fact, it is directly responsible for a colossal destruction of wealth of the median household and of the U.S. currency through its irresponsible monetary policies."-Marc Faber, editor of theGloom, Boom & Doom Report"Greenspan for Mt. Rushmore? Not if Bill Fleckenstein has anything to say about it."-James Grant, editor ofGrant's Interest Rate Observer"In his typically engaging style, Bill Fleckenstein pops the Greenspan bubble...presenting compelling and convincing evidence that the former Fed chief got us into this mess..."-Herb Greenberg, Senior Columnist, MarketWatch.com
Main Description
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 theNew 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 expose 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 naivete 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 Bubblesoffers 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.
Main Description
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 expose 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 naivete 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.
Main Description
THE BOOK THAT BURSTS EASY AL'S BUBBLE-revealing the real story behind Alan Greenspan The New York Times nicknamed him Mr. Bubble for his role in creating the two largest bubbles in recent years: in the stock market and the housing market. Now, MSN Money columnist Bill Fleckenstein reveals the unvarnished truth behind Greenspan's Age of Recklessness. By slashing interest rates to bail out investors, Greenspan made a lot of people rich but his actions resulted in the dot-com disaster of 2000 and the mortgage mess of 2007. But Greenspan's recklessness goes back even further-to the crash of 1987, the Savings & Loan crisis, the implosion of Long Term Capital Management, and even the Asian crisis. This no-holds-barred account finally exposes Greenspan as the worst Fed Chairman ever-and offers an economic wake-up call for citizens and investors.
Table of Contents
Acknowledgmentsp. ix
Introduction: A True Accounting: The Greenspan Era (1987-2006)p. 1
How Wrong Can One Man Be? (1973-1994)p. 7
The Bubble King: The Put Is Born (1995-1997)p. 27
The FOMC Meets the Greenspan Put-and Yawns (1998-1999)p. 47
Bubbleonians Running the Asylum: The Bubble Blow-Off (1999-2000)p. 71
The Stock Bubble Bursts: The Tech Miracle Was a Mirage (2000-2001)p. 91
Home Sweet Home: Housing Saves Us from the Stock Bubble (2001-2003)p. 121
The Housing Hot Potato: The Real Estate Bubble Fuels the ATM (2003-2007)p. 151
Conclusion: The Consequences of the Loss of Fear (2007 and Beyond)p. 181
Notesp. 189
Table of Contents provided by Ingram. All Rights Reserved.

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