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The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession
McGraw-Hill
November 2009
On Sale: November 20, 2009
400 pages
ISBN: 0071615423
EAN: 9780071615426
Hardcover
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Non-Fiction
Alan Greenspanβs 18-year stint as head of the Federal Reserve Bank witnessed some of the most massive upward redistributions of wealth in our nationβs history. Itβs now clear that his policies contributed greatly to the transformation of Wall Street from an engine that financed American business to a business-destroying machineβand that Greenspan abetted the hollowing out of the U.S. economy by giving Wall Street and Washington everything they could possibly want. To take the full measure of Greenspanβs culpability, we need to look beyond the disgraced public persona and see him within the broader sweep of his life and times. In Panderer to Power , author Frederick J. Sheehan delivers the first in-depth, critical biography of the man who, for nearly two decades, served as the worldβs most powerful banker. Beginning with Greenspanβs formative years as a Depression-era kid from New York City, Sheehan traces his subjectβs progress from his days touring America as a reed man with the Henry Jerome Orchestra in the 1940s through his emergence as one of Americaβs first celebrity economists to his ascent through the ranks of power in D.C. What emerges is a searing portrait of a shameless media hound who ferociously promoted his image as a straight-laced numbers cruncher, a Machiavelli whose political skills far surpassed his skills as an economist. Drawing upon a vast array of original sources, the author leaves little room for doubt: either the βeconomic genius of our timeβ was oblivious to the hazards of his irresponsible policy decisions or he knew full well what he was doing, but chose, as he had throughout his career, to put self-interest above the public good.
 Media BuzzMarketplace - PRI - March 19, 2010
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