Download or read book GREENSPAN S BUBBLES THE AGE OF IGNORANCE AT THE FEDERAL RESERVE written by William Fleckenstein and published by McGraw Hill Professional. This book was released on 2008-02-06 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using transcripts of Greenspan's FOMC meetings as well as testimony before Congress, this book delivers a timeline of his most devastating mistakes and weaves together the connection between every economic calamity of the past 19 years.
Download or read book The Age of Turbulence written by Alan Greenspan and published by Penguin. This book was released on 2008-09-09 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the bestselling author of The Map and the Territory and Capitalism in America The Age Of Turbulence is Alan Greenspan’s incomparable reckoning with the contemporary financial world, channeled through his own experiences working in the command room of the global economy longer and with greater effect than any other single living figure. Following the arc of his remarkable life’s journey through his more than eighteen-year tenure as chairman of the Federal Reserve Board to the present, in the second half of The Age of Turbulence Dr. Greenspan embarks on a magnificent tour d’horizon of the global economy. The distillation of a life’s worth of wisdom and insight into an elegant expression of a coherent worldview, The Age of Turbulence will stand as Alan Greenspan’s personal and intellectual legacy.
Download or read book Maestro written by Bob Woodward and published by Simon and Schuster. This book was released on 2012-12-11 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Who is responsible? From the President to the Federal Reserve Chairman, Alan Greenspan to Wall Street to the role of the emerging technologies, Woodward uses his exhaustive investigative technique to reveal the ideas and politics that have changed the lives of millions of people and established the United States as the world's preeminent power. He shows why America has found itself in this exalted position. How it might have been different and when and why it might end.
Download or read book Ben Bernanke s Fed written by Ethan S. Harris and published by Harvard Business Press. This book was released on 2008 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ben Bernanke's swearing in as Federal Reserve chairman in 2006 marked the end of Alan Greenspan's long, legendary career. To date, the new chair has garnered mixed reviews. Business economists see him as the best-qualified successor to Greenspan, while many traders and investors worry that he's too academic for the job. Meanwhile, many ordinary Americans do not even know who he is. How will Bernanke's leadership affect the Fed's actions in the coming years? How will Bernanke build on Greenspan's success, but also put his own stamp on the Fed? What will all this imply for businesses and investors? In Ben Bernanke's Fed, Ethan Harris provides exceptional insights into these crucial issues. As a leading "Fed watch" economist, Harris draws on Bernanke's academic research, his speeches as a governor of the Fed, and his first two years on the job to shed light on: · How the Federal Reserve analyzes and manages the economy using a synthesis of classical and Keynesian theory · Bernanke's strategies for fighting inflation · The implications of the new chair's remarkably plain-spoken style · How Bernanke has cultivated diverse viewpoints but still builds consensus within the Fed Engaging and discerning, this book demystifies the man who has stepped into what many describe as the second most powerful job in America.
Download or read book Greenspan S Bubbles written by William A. Fleckenstein and published by Tata McGraw-Hill Education. This book was released on 2008-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reveals the unvarnished truth behind Greenspan's Age of Recklessness. This book offers a lock-stock-and-barrel portrait of a flawed but fascinating man whose words and actions have led a whole generation astray, and whose legacy will continue to challenge us in the years ahead.
Download or read book The Man Who Knew written by Sebastian Mallaby and published by Penguin. This book was released on 2016-10-11 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Exceptional . . . Deeply researched and elegantly written . . . As a description of the politics and pressures under which modern independent central banking has to operate, the book is incomparable.” —Financial Times The definitive biography of the most important economic statesman of our time Sebastian Mallaby's magisterial biography of Alan Greenspan, the product of over five years of research based on untrammeled access to his subject and his closest professional and personal intimates, brings into vivid focus the mysterious point where the government and the economy meet. To understand Greenspan's story is to see the economic and political landscape of our time—and the presidency from Reagan to George W. Bush—in a whole new light. As the most influential economic statesman of his age, Greenspan spent a lifetime grappling with a momentous shift: the transformation of finance from the fixed and regulated system of the post-war era to the free-for-all of the past quarter century. The story of Greenspan is also the story of the making of modern finance, for good and for ill. Greenspan's life is a quintessential American success story: raised by a single mother in the Jewish émigré community of Washington Heights, he was a math prodigy who found a niche as a stats-crunching consultant. A master at explaining the economic weather to captains of industry, he translated that skill into advising Richard Nixon in his 1968 campaign. This led to a perch on the White House Council of Economic Advisers, and then to a dazzling array of business and government roles, from which the path to the Fed was relatively clear. A fire-breathing libertarian and disciple of Ayn Rand in his youth who once called the Fed's creation a historic mistake, Mallaby shows how Greenspan reinvented himself as a pragmatist once in power. In his analysis, and in his core mission of keeping inflation in check, he was a maestro indeed, and hailed as such. At his retirement in 2006, he was lauded as the age's necessary man, the veritable God in the machine, the global economy's avatar. His memoirs sold for record sums to publishers around the world. But then came 2008. Mallaby's story lands with both feet on the great crash which did so much to damage Alan Greenspan's reputation. Mallaby argues that the conventional wisdom is off base: Greenspan wasn't a naïve ideologue who believed greater regulation was unnecessary. He had pressed for greater regulation of some key areas of finance over the years, and had gotten nowhere. To argue that he didn't know the risks in irrational markets is to miss the point. He knew more than almost anyone; the question is why he didn't act, and whether anyone else could or would have. A close reading of Greenspan's life provides fascinating answers to these questions, answers whose lessons we would do well to heed. Because perhaps Mallaby's greatest lesson is that economic statesmanship, like political statesmanship, is the art of the possible. The Man Who Knew is a searching reckoning with what exactly comprised the art, and the possible, in the career of Alan Greenspan.
Download or read book Deception and Abuse at the Fed written by Robert D. Auerbach and published by University of Texas Press. This book was released on 2009-06-03 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Reserve—the central bank of the United States—is the most powerful peacetime bureaucracy in the federal government. Under the chairmanship of Alan Greenspan (1987-2006), the Fed achieved near mythical status for its part in managing the economy, and Greenspan was lauded as a genius. Few seemed to notice or care that Fed officials operated secretly with almost no public accountability. There was a courageous exception to this lack of oversight, however: Henry B. Gonzalez (D-TX)—chairman of the U.S. House of Representatives Financial Services (banking) Committee. In Deception and Abuse at the Fed, Robert Auerbach, a former banking committee investigator, recounts major instances of Fed mismanagement and abuse of power that were exposed by Rep. Gonzalez, including: Blocking Congress and the public from holding powerful Fed officials accountable by falsely declaring—for 17 years—it had no transcripts of its meetings; Manipulating the stock and bond markets in 1994 under cover of a preemptive strike against inflation; Allowing $5.5 billion to be sent to Saddam Hussein from a small Atlanta branch of a foreign bank—the result of faulty bank examination practices by the Fed; Stonewalling Congressional investigations and misleading the Washington Post about the $6,300 found on the Watergate burglars. Auerbach provides documentation of these and other abuses at the Fed, which confirms Rep. Gonzalez's belief that no government agency should be allowed to operate with the secrecy and independence in which the Federal Reserve has shrouded itself. Auerbach concludes with recommendations for specific, broad-ranging reforms that will make the Fed accountable to the government and the people of the United States.
Download or read book Financial Market Bubbles and Crashes Second Edition written by Harold L. Vogel and published by Springer. This book was released on 2018-08-16 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists broadly define financial asset price bubbles as episodes in which prices rise with notable rapidity and depart from historically established asset valuation multiples and relationships. Financial economists have for decades attempted to study and interpret bubbles through the prisms of rational expectations, efficient markets, and equilibrium, arbitrage, and capital asset pricing models, but they have not made much if any progress toward a consistent and reliable theory that explains how and why bubbles (and crashes) evolve and can also be defined, measured, and compared. This book develops a new and different approach that is based on the central notion that bubbles and crashes reflect urgent short-side rationing, which means that, as such extreme conditions unfold, considerations of quantities owned or not owned begin to displace considerations of price.
Download or read book The Man Who Knew written by Sebastian Mallaby and published by Penguin. This book was released on 2017-12-05 with total page 801 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Exceptional . . . Deeply researched and elegantly written . . . As a description of the politics and pressures under which modern independent central banking has to operate, the book is incomparable.” —Financial Times The definitive biography of the most important economic statesman of our time, from the bestselling author of The Power Law and More Money Than God Sebastian Mallaby's magisterial biography of Alan Greenspan, the product of over five years of research based on untrammeled access to his subject and his closest professional and personal intimates, brings into vivid focus the mysterious point where the government and the economy meet. To understand Greenspan's story is to see the economic and political landscape of our time—and the presidency from Reagan to George W. Bush—in a whole new light. As the most influential economic statesman of his age, Greenspan spent a lifetime grappling with a momentous shift: the transformation of finance from the fixed and regulated system of the post-war era to the free-for-all of the past quarter century. The story of Greenspan is also the story of the making of modern finance, for good and for ill. Greenspan's life is a quintessential American success story: raised by a single mother in the Jewish émigré community of Washington Heights, he was a math prodigy who found a niche as a stats-crunching consultant. A master at explaining the economic weather to captains of industry, he translated that skill into advising Richard Nixon in his 1968 campaign. This led to a perch on the White House Council of Economic Advisers, and then to a dazzling array of business and government roles, from which the path to the Fed was relatively clear. A fire-breathing libertarian and disciple of Ayn Rand in his youth who once called the Fed's creation a historic mistake, Mallaby shows how Greenspan reinvented himself as a pragmatist once in power. In his analysis, and in his core mission of keeping inflation in check, he was a maestro indeed, and hailed as such. At his retirement in 2006, he was lauded as the age's necessary man, the veritable God in the machine, the global economy's avatar. His memoirs sold for record sums to publishers around the world. But then came 2008. Mallaby's story lands with both feet on the great crash which did so much to damage Alan Greenspan's reputation. Mallaby argues that the conventional wisdom is off base: Greenspan wasn't a naïve ideologue who believed greater regulation was unnecessary. He had pressed for greater regulation of some key areas of finance over the years, and had gotten nowhere. To argue that he didn't know the risks in irrational markets is to miss the point. He knew more than almost anyone; the question is why he didn't act, and whether anyone else could or would have. A close reading of Greenspan's life provides fascinating answers to these questions, answers whose lessons we would do well to heed. Because perhaps Mallaby's greatest lesson is that economic statesmanship, like political statesmanship, is the art of the possible. The Man Who Knew is a searching reckoning with what exactly comprised the art, and the possible, in the career of Alan Greenspan.
Download or read book Financial Market Bubbles and Crashes written by Harold L. Vogel and published by Springer Nature. This book was released on 2021-12-17 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists broadly define financial asset price bubbles as episodes in which prices rise with notable rapidity and depart from historically established asset valuation multiples and relationships. Financial economists have for decades attempted to study and interpret bubbles through the prisms of rational expectations, efficient markets, equilibrium, arbitrage, and capital asset pricing models, but they have not made much if any progress toward a consistent and reliable theory that explains how and why bubbles (and crashes) evolve and are defined, measured, and compared. This book develops a new and different approach that is based on the central notion that bubbles and crashes reflect urgent short-side rationing, which means that, as such extreme conditions unfold, considerations of quantities owned or not owned begin to displace considerations of price.
Download or read book Alan Greenspan written by E. Ray Canterbery and published by World Scientific. This book was released on 2006 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thought-provoking new title, by the highly acclaimed author of Wall Street Capitalism and Brief History of Economics, provides a much-needed counterbalance to the mythical distortions of Alan Greenspan. Canterbery exposes Greenspan's fundamentalist market ideology as overwhelming rationality in the making of economic policy. He depicts a Fed selfishly guarding its political independence, even as Greenspan has his way in virtually every major economic and social policy affecting the global economy since the Ford Administration. This book reveals the hidden nodes of power that give the Fed vast authority over the global economy. It also explains why it is so important not only to understand those powers, but also to appreciate why they are resistant to moderation. Key Features Goes behind the scenes of policy-making at the Federal Reserve and the White House to reveal how financial interests are served while ordinary workers' interests are left behind Exposes the many blunders of the Fed leading to self-inflicted financial crises and aggressive interventions that made Greenspan a legend Unmasks Alan Greenspan as a Wall Street insider who has amassed more political power than the President of United States Shows how Greenspan has derailed American Presidents by inept policy decisions Readership: Trade Market: Readers of the financial news (especially those who invest in stocks, bonds and housing) and those with a lively interest in public policy and how it is made; Academic: Supplementary text for professors and university students at all levels in business, finance, money and banking, macroeconomics, principles of economics, economic history, contemporary history, and general social sciences.
Download or read book Greenspan s Fraud written by Raveendra N. Batra and published by Macmillan. This book was released on 2005-05-09 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an analysis of Alan Greenspan's economic policies and their impact on global economics and charges that the Federal Reserve chairman's beliefs have compromised middle-class stability and benefited the wealthy.
Download or read book Panderer to Power written by Frederick Sheehan and published by McGraw Hill Professional. This book was released on 2009-03-08 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical look at the man behind the bubble economies of the last two decades In his critically acclaimed Greenspan’s Bubbles, coauthor Frederick J. Sheehan exposed the starring role played by former Fed chairman Alan Greenspan in virtually every economic calamity of the past 19 years. Now Panderer to Power reveals the mix of towering ambition and poor judgment that compelled Greenspan to set policies that enriched Wall Street at the expense of the American economy.
Download or read book Globalization and the Reform of the International Banking and Monetary System written by O. Hieronymi and published by Springer. This book was released on 2009-11-04 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book argues that a successful monetary and banking reform requires: a rollback of monetary nationalism and return to monetary internationalism; trust in the banking system with its basic functions restored; a balance between competition and solidarity in order to assure political and social acceptance of globalization.
Download or read book The Greenspan Effect written by David B. Sicilia and published by McGraw-Hill Companies. This book was released on 2001 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: ""[David Sicilia and Jeffrey Cruikshank] have done their homework on this fascinating economist. Greenspan's career is spelled out to readers in this informative and interesting read."--San Diego Union Tribune Selected by "Library Journal as a Best Business Book of the Year With one key phrase or comment, Federal Reserve chairman Alan Greenspan can send global financial markets tumbling-- or soaring! "The Greenspan Effect provides an up-close examination of Greenspan's tumultuous regime, suggesting to investors what pronouncements to expect-- and what they will mean--during the remainder of his remarkable term in office. This in-depth analysis of the words of Alan Greenspan includes highlights of his most influential speeches and demonstrates his uncanny, far-reaching power to impact markets on a global scale. In addition, it explains how to separate rhetoric from meaningful signals and anticipates the impact Greenspan is likely to have on future global markets. "The Greenspan Effect focuses on one powerful and brilliant man, his words and actions, and how investors can profit from this new knowledge.
Download or read book Back from the Brink written by Steven K. Beckner and published by Wiley. This book was released on 1997-01-07 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Thorough and timely . . .essential reading for those who seek insight into the process and the personalities that will shape Fed policy."-Barron's A compelling and intricate portrait of the enigmatic Alan Greenspan and the powerful institution he heads "Steven Beckner, as knowledgeable a Fed watcher as there is in the land, has done a great job telling the story of the challenging and successful Greenspan years."-L. William Seidman Chief Commentator, CNBC, and former head of the FDIC "Beckner does a yeoman's job of chronicling the Fed policy of the past decade."-Business Week "No matter what [Beckner] writes these days, people on Wall Street assign magical properties to his words."-Michael Lewis New York Times Magazine "Fed watcher extraordinaire Steven Beckner chronicles the incredible tenure of Fed Chairman Alan Greenspan. . . . Read and reread this extraordinary book."-Dow Jones Asset Management "Accessible to the financially uninitiated, this dynamic, seemingly day-to-day chronicle may be the ultimate Fed watcher's guide."-Publishers Weekly
Download or read book Bernanke s Test written by Johan and published by Agate Publishing. This book was released on 2009-03-01 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consensus on Alan Greenspan's performance as Fed chair used to be extremely positive, but more and more it's been called into question. Now, 2008 has seen Ben Bernanke in the eye of a storm that was created largely during Greenspan's tenure. His management of the bubble of all bubbles will be a decisive factor in whether this crisis will be limited in its impact on the real economy or whether it directly leads to a major recession. This is Bernanke's Test. In examining the challenges facing Bernanke, author Johan Van Overtveldt reviews Greenspan's long record as Fed chair, as well as Ben Bernanke's career as an economist prior to replacing Greenspan. The book offers much-needed historical context by exploring the role and reach of the central banker, and how former Fed chairmen — Benjamin Strong, William McChesney Martin, Arthur Burns, and especially Paul Volcker — dealt with the same complex issues Bernanke faces today.
