Butch Cassidy of banking
by Bill BonnerEditor,
The Daily Reckoning
January 27, 2006
The Daily Reckoning PRESENTSThis coming Tuesday, January 31 will see Greenspan pass the torch to Ben Bernanke as the head of the Federal Reserve. Let's take a quick look at the job Helicopter Ben will be taking over...
"Alan Greenspan is the greatest economist of our time...probably the best central banker of all time."
Thus saith a French economist this morning interviewed on a radio talk show this morning. Your editor, also a guest on the show, was asked to respond. What follows is not what he said (because when he is called upon to speak in public he tends to hem and haw like a teenager asking for a date.) But this is what we intended to say:
"Yes, we agree. Alan Greenspan is probably the best central banker that ever lived...in the sense that Butch Cassidy was a great bank robber or Mrs. Purdy ran a great bordello. What is great about him is that he really understood central banking and appreciated it; the way a swindler admires a really good flimflam."
( Full story here )
The Daily Reckoning
January 27, 2006
The Daily Reckoning PRESENTSThis coming Tuesday, January 31 will see Greenspan pass the torch to Ben Bernanke as the head of the Federal Reserve. Let's take a quick look at the job Helicopter Ben will be taking over...
"Alan Greenspan is the greatest economist of our time...probably the best central banker of all time."
Thus saith a French economist this morning interviewed on a radio talk show this morning. Your editor, also a guest on the show, was asked to respond. What follows is not what he said (because when he is called upon to speak in public he tends to hem and haw like a teenager asking for a date.) But this is what we intended to say:
"Yes, we agree. Alan Greenspan is probably the best central banker that ever lived...in the sense that Butch Cassidy was a great bank robber or Mrs. Purdy ran a great bordello. What is great about him is that he really understood central banking and appreciated it; the way a swindler admires a really good flimflam."
( Full story here )
posted by Oil Shock at 6:37 PM
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