State of Play: Greenspan’s Mea Culpa
In a congressional hearing today, former Federal Reserve Chairman Alan Greenspan admitted that his flawed economic philosophy contributed to the financial
Jul 31, 2020300.5K Shares8.1M Views
In a congressional hearing today, former Federal Reserve Chairman Alan Greenspan admitted that his flawed economic philosophy contributed to the financial crisis.
The New York Times took perhaps the strongest line against Greenspan, running the headline “Greenspan Concedes Error on Regulation” and pointing to a “serious flaw in his own philosophy” that free markets can be trusted to regulate themselves.
The Washington Post headline was more neutral — “Greenspan: ‘Crisis Broader Than Anything I Could Have Imagined’” — while the Wall Street Journal headline –“Greenspan Admits Some Mistakes Amid Grilling by House Lawmakers” — implies that he cracked under tough interrogation techniques. The Los Angeles Times avoids placing blame, and does not mention any criticism of Greenspan until six paragraphs into its piece.
Here’s a more complete rundown of the coverage:
Greenspan Concedes Error on Regulation(The New York Times)
Greenspan: ‘Crisis Broader Than Anything I Could Have Imagined’(Washington Post)
Greenspan Admits Some Mistakes Amid Grilling by House Lawmakers(The Wall Street Journal)
Alan Greenspan warns unemployment will rise further(The Los Angeles Times)
Dexter Cooke
Reviewer
Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
Latest Articles
Popular Articles