Monday, September 24, 2007

Barking Back:
Top reader comments

Our features on Alan Greenspan's book tour and the troubles in Jena, Louisiana produced some lively commentary.

On Greenspan,
Rick Graves said:
"His (Greenspan's) job allowed him to dictate monetary policy -- not consumer spending in the stock market.

Six Months prior to the bubble bursting he warned everyone there was an "irrational exuberance in the market". Raising Fed Fund Rates would have done little to control the gluttony which existed.
I agree that the genius tag is probably not deserved. But, in reading the posts it seems we all agree he deserves "some" credit. Economics is classified as a "social science". No Fed Chairman can control rational consumers in the market place.

He did after all, keep the country out of any sustained periods of recession or inflation. Pretty tricky stuff -- especially during the boom -- when tremendous amounts of paper and liquid wealth were being created overnight!"
On the troubles in Jena, Carter McCoy wrote:
"I agree with much of what you say Cav, but I do think that the sentences for the black kids were too harsh. It's too bad everyone in that little down has to be painted as a thug or a clansman."
Terry Page said...
"The symbol of a rope over a tree in the South is much more than a nasty prank -- it's an act of violence in itself."


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