No matter your role as an investor, trader, homeowner, or CEO, the repercussions of Alan Greenspan's "Age of Ignorance" will be felt for years. William A. Fleckenstein, a columnist for MSN Money, argues that Greenspan's nearly 19-year tenure as Federal Reserve Chairman was even more detrimental than widely believed. Dubbed "Mr. Bubble" by the New York Times, Greenspan was a serial bubble creator, marked by a history of poor decision-making. His infamous "Greenspan Put" fostered the illusion of a stable economy, but this revealing work shows that the bear has finally caught up with Goldilocks. Using transcripts from FOMC meetings and congressional testimonies, this eye-opening analysis outlines Greenspan's most significant errors and connects them to various economic crises over the past two decades, including the 1987 stock market crash, the Savings & Loan crisis, the collapse of Long Term Capital Management, the tech bubble of 2000, the Y2K scare, and the 2007 credit and real estate crisis. Fleckenstein illustrates the extensive damage caused by Greenspan's missteps, highlighting his repeated failures and refusal to acknowledge them, as well as his tendency to rewrite history to rationalize his actions. This work presents a comprehensive portrait of a flawed figure whose legacy will continue to pose challenges.
