Financial analyst and all-around polymath Paul Kedrosky dug up a gem of a quote from Herr Greenspan circa March 2000:
CHAIRMAN GREENSPAN. Before we turn to our regular agenda, I want to mention that today is Ed Boehne’s last meeting. He has been attending these meetings for many years; in fact, none of us has sat at this table without seeing Ed sitting in his chair. …If there is some way that we could perhaps buy him off not to write a book, it might be an appropriate use of funds! …MR. BOEHNE. Thank you. [Applause]
MR. MCTEER. We need to get that chair reupholstered!
I can’t help but wonder why the producers of ‘Fun with Dick and Jane‘ failed to add both Greenspan and The Fed as inspiration to their movie in the ending credits — these wonks were arguably just as culpable. It’s not like every CEO gets to set interest rates…
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