“You will go down as the greatest chairman in the history of the Federal Reserve Bank,” declared Senator Phil Gramm, the Texas Republican who was chairman of the Senate Banking Committee when Mr. Greenspan appeared there in February 1999.I'm admittedly (and proudly) no expert on Rand, but I thought there was something about the selfishness-without-a-self mindset, whereby individuals don't act in a rational way to make themselves better humans, but effectively just rape and pillage... Of course, noone would have ever thought that a bunch of nice guys in suits and ties could act like a hedonistic mob.
Quote of the Day, which is also the leader to the article:
“Not only have individual financial institutions become less vulnerable to shocks from underlying risk factors, but also the financial system as a whole has become more resilient.” — Alan Greenspan in 2004
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