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Politics : Formerly About Advanced Micro Devices

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To: Amy J who wrote (219639)	2/18/2005 5:33:42 AM
From: Raymond Duray	Read Replies (1) of 1576255

Amy, The best analysis of Greenspan's remarkably partisan turn in Congress this week comes from one of my heroes, Paul Krugman. Krugman is about the only sensible economist in the nation who has a large audience. Other than him, all we get is the crackpot nonsense of the lunatics at the American Enterprise Institute and the even more luridly insane Club For Growth. tinyurl.com It's a wonderfully written piece, but I'll just tease you with Krugman's refreshingly honest conclusion: One last point: a disturbing thing about Wednesday's hearing was the deference with which Democratic senators treated Mr. Greenspan. They acted as if he were still playing his proper role, acting as a nonpartisan source of economic advice. After the hearing, rather than challenging Mr. Greenspan's testimony, they tried to spin it in their favor. But Mr. Greenspan is no longer entitled to such deference. By repeatedly shilling for whatever the Bush administration wants, he has betrayed the trust placed in Fed chairmen, and deserves to be treated as just another partisan hack.

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