Posted on 03/29/2008 4:48:31 PM PDT by shrinkermd
Auerbach, portrays Greenspan as a real-life Professor Marvel -- who, through double-talk or "garblement," transformed himself into a mighty economic wizard à la Oz. Auerbach strongly implies that Greenspan's 1977 Ph.D. from New York University was obtained in a few months with little more rigor than a matchbook-cover art degree and that Greenspan has kept his Ph.D. thesis secret in order to protect his vaunted academic reputation.
Although Auerbach's evidence is circumstantial, it certainly is provocative. For years, NYU told the public that, at Greenspan's request, the thesis was locked away from public view in a vault at its Bobst Library. Auerbach himself was told this in January 2004 when he tried to obtain a copy.
"Normally," writes Auerbach, "a Ph.D. dissertation in a field such as economics must be in a form sophisticated enough to be usable in research, must make a contribution to the existing body of knowledge, and must be original, unpublished work.
Writes Auerbach: "Evidently, he wanted me to believe that NYU business Ph.D.s just took their dissertations home and put them in a drawer."
Auerbach says in a footnote that he made no request to Greenspan for a copy because "the publication of a scholarly addition to existing knowledge is the obligation of the university and the Ph.D. candidate."
Barron's is not bound by such academic niceties and requested a copy from Greenspan, as well as a response to Auerbach's assertions. The Maestro's spokeswoman told us that his busy travel schedule precluded him from getting back to us in time for our deadline. As for two inquires to the provost, they went unanswered.
Greenspan, writes Auerbach, obtained his NYU doctorate in a few
(Excerpt) Read more at online.barrons.com ...
Don’t you know?
We’re supposed to spell that “Greenscam.”
This is unimportant in the same way President Bush’s national guard experience is unimportant. Those things are used to judge whether someone is qualified. Once they have done the job, their performance is more important.
Greenspan is a bastard. All should be revealed and let the chips fall where they may.
"The Fed was ready to exchange billions in low-risk U.S. government bonds for underperforming mortgage investments from primary dealers as part of steps announced this month to help them raise capital and to encourage broader lending.
Banks are clamoring for extra cash to meet capital requirements ahead of Monday's quarterly book closing, reducing their willingness to lend and adding to strains in crisis-hit markets.
"We are getting distortion from quarter-end, and banks are still reticent to lend," said William Knapp, investment strategist at MainStay Investments in New York.
London interbank rates reflected banks' unwillingness to part with cash. Three-month sterling LIBOR funds edged above 6 percent, the highest since late December, while overnight dollar LIBOR rates jumped to 3.07750 percent, the highest since the Fed cut rates by 75 basis points on March 18.
Traders and analysts said extra funds from central banks would be welcomed given fresh tensions on markets.
"The need for liquidity is becoming particularly acute into month-end, quarter-end," said Richard McGuire, fixed income strategist at RBC Capital Markets in London.
The Bank of England lent 13.62 billion pounds ($27.33 billion) at its regular one-week money market operation, up from prior week's 10.93 billion. Banks
We are in a crisis not easily explained away as a short-term problem.
Given how every wrinkle on Mr. Greenspan's face was scrutinized relentlessly for clues about future monetary policy, pruduence would surely suggest keeping an out-of-date paper out of the hands of those who have too much time and too little mental balance.
You see, in the old school, prudence is a virtue. In the old school, a man's every thought is his private domain. It's actually in Conservatism 101.
I don't believe a Fed Chair is obligated to make his dusty gard-school notebooks public record.
You're wearing a scarlet M.
To liberals social origins and credentials are all-important. Performance is irrelevant.
It’s probably one long love letter to that chain smoking wife swapping midget Ayn Rand
>>We are in a crisis not easily explained away as a short-term problem.<<
I absolutely. But Greenspan’s thesis is not in my top 100 concerns.
No wonder he mumbles, he’s a dope. For year’s no one could understand anything the man said or meant so given his crown by the MSM, he kept up the act and those listening read into what he may have said and meant. Ridiculous.
He just happened to tame inflation and reside over one of the longest periods of expansion and prosperity ever. I really don’t care if his thesis was not stellar.
I think asked you the other day...are you Alan or Andrea? You are greenspan’s BIGGEST cheerleader...WHY?
I think asked you the other day...are you Alan or Andrea? You are greenspan’s BIGGEST cheerleader...WHY?
I don't know about "cheerleader." I'd probably try to talk sense about you if everyone who piped up about you blamed you for everything in your sphere of influence that was dysfunctional and slandered you all the time.
It just boggles the mind (of a few, I suppose) how many people are smarter, more honest, better looking, and everything else, in their own humble estimation, than the man who actually did the job for so long.
Somewhere else I posted a great analogy...Oh, yes, it was this: "It's the teachers fault your kids misbehave in school." Just like it's your banker's fault you paid too much for your house. Oh, and Alan Greenspan's too, of course.
Aren't you thinking of Paul Volker here?
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