Grade Inflation: Greenspan Insists That He Was Right 70 Percent of the Time

Former Federal Reserve Chairman Alan Greenspan insisted that he was “right seventy percent” of the time in his tenure leading up to the economic collapse. On most grading scales that would give him about a C — hardly the level of performance you want from an economic policy official.

Greenspan insisted “When you’ve been in government for 21 years, as I have been, the issue of retrospect and what you should have done is a really futile activity. I was right 70% of the time. But I was wrong 30% of the time, and there were an awful lot of mistakes in 21 years.”

I wonder what it takes to get at least a B student performance for one of the largest economies in the world.

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8 thoughts on “Grade Inflation: Greenspan Insists That He Was Right 70 Percent of the Time”

  1. A C- for Greenspan?????? Now…that’s what I’d call grade inflation!

    Did you ever notice that the older Greenspan gets–the more he looks like the creature from Alien?

  2. Damn that “Bell Curve” he may have actually been an “A” Student.

  3. 70%?

    Once again Greenspan, you’re not very good with numbers or English.

    More like 17%.

    And a self-assessment? You should keep those to yourself. (Insert extra sarcasm here) Because any and every one knows that’s not biased.

  4. Here is an interesting video by Peter Schiff who calls it as he sees what Greenspan did by keeping interest rates low. Greenspan is a fool and he is no capitalist.
    The federal reserve caused the crisis we are in by keeping rates low and not allowing market forces to work.

    If a steak dinner costs $5 when it should cost $30 guess what . . .

    It was done to help Bush fund his war in Iraq.

  5. Boy, is that an old picture of Greenie. I wish I could be right 70% of the time in my job. What was it, 15-20 months ago he admitted to Congress that he had screwed up and now he is trying to rewrite recent history. I think his grade should be a strong D! His hands are dirty from playing ball with the Bush administration and he is trying to wash off the dirt now.

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