Wednesday, July 23, 2003

Is Alan Greenspan Just A Political Opportunist?

Is Alan Greenspan a phoney, political opportunist? That’s the now public opinion of an economist who knows Greenspan since 1948 when they both attended the New York University School of Commerce.

The economist, Dr. Pierre Rinfret, has been publishing on the internet his recollections of individuals in business, politics and elsewhere that he has known over a very long and successful career. Rinfret’s observations on everyone from Richard Nixon (He was an economics advisor to Nixon) to Lee Iacocca are a no holds barred personal glimpse into the values and character of these individuals as observed by Rinfret (And it does appear that in retirement Rinfret is having some fun settling a few old scores).

On Greenspan, Rinfret charges that Greenspan “is living proof that merit does not count but political influence counts far more...”

After Greenspan closed down his consulting business to join the Fed, here’s what Rinfret found:

“One of the absolute lies about him is that he retired from his consulting business a wealthy man. Absolutely and totally untrue. When he closed his economic consulting business to go on the Board of the Federal Reserve he did so because he had no clients left and his business was going under. We even went so far as to try and hire some of his former employees only to find out he had none for the six months prior to his closing. When he closed down he did not have a single client on a retainer basis. His only source of income was his speech making.”

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