Replies

People like Greenspan come from a specific school of thought and they act it out throughout their careers just coasting on some planning and good or bad market response luck.
They all go with the flow hoping that their interference and market manipulations will do the nation good. It's a gamble.
After so many years of being at the FED with the FED and other agency mentalities, they become their own roles. They get caught up in the hubris and smugness that comes with being in the elite.
Years later they review their journals and diaries, scouring for a few gems upon which they can write a very clear and logical treatise. The treatise will detail what they did and why they maintained certain policies - for posterity name clearing and a nice profit as well. Many of us want the “inside scoop” on A, B and C.
Inevitably they blame others and outside forces for difficult periods but what the heck, they're not in power anymore. Now the Greenspans and Mitchells can attend cocktail parties, give lectures and rub shoulders with the mighty and powerful but with a renewed, clear conscious.

People like Greenspan come from a specific school of thought and they act it out throughout their careers

Had he adhered to the precepts of the Randian school of thought, which he embraced as a young man, we mightn't be in the fix we're in.