Apparently the Grand Poobah of all Money (a.k.a Alan Greenspan)Â wants you to believe he’s unfamiliar with the concept of “Greed” and how making lots and lots of money in a short period of time has a way of making a man cease to think rationally or worry about long-term planning or whether all the money you’re making rests upon a House fo Cards. This apparently never occured to the man who once worried about “irrational exuberance” or whatever that means.
So the Grand Poobah of all Money plays dumb because he does not want to admit he knew exactly what he was doing all along. He made money easy to get for dot com companies and home buyers because he knew that in an age when consumer spending rather making things was the real basis of U.S. wealth, it was important as much money flowed through system as possible to basically repeal the business cycle.
Well the Grand Poobah failed, and now he’s just plain old Alan with his reputation ruined for creating the mess we’ll be spending years to clean up and it couldn’t have happened to a more wonderful person.
The moral of the story, never abandon your Randianism.