Greenspan Speaks His Mind

Readers may focus on his critique of GOP policies, but the long-term impact of the former Fed chairman's memoir will rest on the quality of its forecasts

Alan Greenspan's memoir, The Age of Turbulence, is much like his speeches—measured, thoughtful, with some powerfully provocative nuggets scattered throughout. So far what has gathered the most attention has been his disdain for President George W. Bush's economic policy and for the Republican politicians who ran Congress until 2006, a surprise given the ex-Fed Chairman's deep Republican roots. Also striking is his willingness to say straight out that "the Iraq war is largely about oil."

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