Re: Greenspan, friend of Bill

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

Tom Dickens' research suggests otherwise.

On Sat, Sep 15, 2007 at 05:26:29PM -0700, Jim Devine wrote:
> well, the power of the Fed -- and the bond market -- arose only with
> the fall of the Bretton Woods fixed exchange-rate system. Before that,
> the Fed was largely passive. Fiscal policy ruled the roost, though
> often for ill rather than for good.
>
> Michael Perelman wrote:
> > Woodward paints the scene that followed:
> >
> > At the president-elect's end of the table, Clinton's face turned red with anger and
> > disbelief.  'You mean to tell me that the success of the program and my reelection
> > hinges on the Federal Reserve and a bunch of fucking bond traders?' he responded in
> > a half-whisper.
>
> --
> Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
> way and let people talk.) --  Karl, paraphrasing Dante.

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com