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Should former Fed boss Alan Greenspan stop talking about the economy?


Here's a sampling of comments.


Federal Reserve Board Chairman Alan Greenspan testifies on Capitol Hill, Thursday, Nov. 3, 2005, before Congress' Joint Economic Committee. Greenspan told the committee that economic fallout from the recent spate of devastating hurricanes should prove fleeting and that the economy remains sturdy. (AP Photo/Lauren Victoria Burke)
Lauren Victoria Burke
Federal Reserve Board Chairman Alan Greenspan testifies on Capitol Hill, Thursday, Nov. 3, 2005, before Congress' Joint Economic Committee. Greenspan told the committee that economic fallout from the recent spate of devastating hurricanes should prove fleeting and that the economy remains sturdy. (AP Photo/Lauren Victoria Burke)

"I am disgusted at this ex-fed chief who still wants to be the ultimate financial guru, whose ego and personal pocketbook still needs to be fed. How come he didn't utter the "R" word when he was fed chief and serving the Bush administration, when he was supposed to be non-partisan? It was obvious that he was not non-partisan. Also, how come he didn't emphasize the national debt, and its disastrous effects on future generations when he was fed chief? The answer is obvious." -- Lenora S., Key Largo, Florida

"Mr. Greenspan was a great Fed chairman, but I do not remember him ever talking about recession the way he is now. It is distracting to the market and a disservice to Mr. Bernanke. He is not a politician and he no longer knows the pertinent data details. For someone who was so spectacular in his bubble speak, he now seems to give out glib and irrational offhand statements." -- Thomas E; Missouri

"Mr. Greenspan is doing a disservice to both his successor and to the economy by his comments. Although he is no longer privy to the vast amount of information on the economy that he used to access prior to retirement, his words still carry weight. He needs to pipe down and work on his memoirs that he is being paid eight million dollars to write. After his continued and intrusive comments, I don't plan on buying it!" -- John M. Lexington, S.C.

"Mr Greenspan should have the decency to not put added pressure on the current chairman Mr. Bernake. In 1987 he over tightened, after taking over from Mr. Volcker and precipitated the crash a few months later. In 1999 he over corrected for Y2K (Over liquidity) and caused the bubble which he then overcorrected by over tightening interest rates and hence the 2000-2003 recession. To counteract this he dropped rates excessively and for too long and hence caused the housing bubble of 2004-2006. He was like a drunk physician who was maniacally taking care of his patient from one extreme to another with the patient made ill by the doctors own excessive treatments. Say goodnight Alan!" -- George L. MD., Coral Springs Fl.

"Yes, especially in these times. Alan had his years and now it is time to step away from the camera and the lime light. Oh yes Alan, thank you for all your help with the Stock Market in 2002 and for the help you have given the Housing Market as well. It just would not have been the same without you. Alan the big chair at the country club is calling. Please heed the call! CNBC, thanks for a great network and the great service you provide all investors." -- Brad, Union City, CA

"Hey, leave the guy alone, he's just trying to sell his book." -- Art W., Florida

"I think he's finding it difficult to let go of his "rock star" status. Please, Mr. Greenspan, just walk away...quietly." -- Stephen D., NY

"To me his opinion is just that - he no longer has the resources on his job to make reliable comments. He is retired & should stay there. He should try golfing." -- Diane S., South Carolina

"For years the former fed chairman has obfuscated the economic picture with his aberrational analysis. It's time for him to step aside, enjoy retirement, and allow his predecessor to do his thing." -- Darrell B., Ohio

More comments

“Mr. Greenspan is free to say whatever he wants. CNBC though should stop reporting it everyday as news.” -- Monte S., New York

”Greenspan's comments infringe on his successor's job. Let Bernanke do his job.” -- Dan B., North Carolina

“Windfall profits. Is that the reason for his comments?” -- Paul Marion, Oklahoma

“Yes, I’ve heard all I want from Greenspan. The economy did more for Clinton and Greenspan then either one of them did for the economy. At least I can understand what Bernanke is saying when he speaks.” -- Jim S., Arizona


“Both Greenspan and Bernanke are biased. The question is which one is the least biased? My vote is on Greenspan and I am net short! Keep talking Greenspan.” -- Steve M., Denver

“Stop talking about the economic forecast, unless your views are positive. Then, no problem.” -- Marshall G., Florida

“No way. I have much more faith in his assessment of the economy than I ever would with Ben Bernanke. He predicted the housing slump in ‘05, and the market crash of ’01. Bernanke is just on coast, and he will act too late.” -- Kevin A., Florida

“No, Mr. Greenspan is probably the only one in government telling it like it is.” -- Carol F., Michigan

“Yes!! At the very least he should be very careful what he says as he has to know he will be taken out of context. Does he still want the job?” -- Jodi G., Colorado

"No. Greenspan is an expert on the economy. He is not necessarily right but he should be allowed to voice his opinion like any other person. No one has a problem with ex-presidents talking politics, why should people have a problem with an ex fed chairman talking economics. – Steve B., Delaware

“Yes. He needs to be less vocal on his opinion at least on a high visibility level. While I agree he has been extremely effective as a Fed Chairman he should have kept the job if he wanted to be in the public limelight. If you were Ben Bernanke, would you like being up staged?” -- David Fragomeni, New York

“No, he should not! If the shoeshine man can talk about the economy, then surely Citizen Greenspan can. The question is, who’s listening? More importantly who’s reporting it and with what spin?” -- Jack C., Texas

“Please be quiet, Mr. G. You’ve had your 15 minutes” -- Morgan R. Nova Scotia

“Yes. The man retired way too late, anyway. Let uncle Ben do his job.” -- Debbie H., Nevada

“Never! Perfect markets need perfect information and that means we take everything we can get. And, I can't think of a better economist who is available to the public.” -- Pamela D., Massachusetts

More comments

“Yes. Ben Bernanke has the reigns now. Greenspan may be well meaning but it does not leave the public trusting Bernanke's decisions.” -- Russell C., Texas

“It is called freedom of speech, just because you disagree with it or don't like it, doesn't mean that it is wrong!! This has nothing to do with the economy or the markets. It has everything to do with the constitution of the United States! Mr. Greenspan dose not work for the government anymore, he has the right to say what ever he feels like saying. When you are a government position it is important to be careful of what you say, remember the mistake Bernanke made early in his tenure? Keep talking Alan.” -- Eric B., Texas

“When someone’s comments can move the market then they should not voice their comments to the public unless they hold an elected position with the government.” -- Bryan C, Michigan

“Alan's already made enough bad calls in his career. Why remind us of these by continuing to press his luck?” -- Chris W., New York

“Mr. Greenspan is a very intelligent economist, but not flawless. We could make a list of his professional misjudgments as well as successes. His opinion is just one of many. How we react to it is our choice.” -- Robert H., New Hampshire

“I think that Mr. Greenspan has an opinion like anyone else. However, he has a lot more influence with his comments and the constant warnings of recession may actually lead people to believe that it is coming even if the market and economy are strong.” -- Alan B., Florida

“Let the man make a living. We know his investments probably won't cut it for him.” -- Jim T., Wisconsin

“While I have a tremendous amount of respect for the former Fed Chairman, Alan Greenspan, his take on the markets is no more correct now then when he made his "irrational exuberance" statement many years ago. Mr. Greenspan is our nations top economist, not a market prognosticator. We should ignore what Mr. Greenspan has to say about the markets and listen intently to what he says about inflation and recession.” -- Carmen C., Colorado

“He had years to express his views on the economy now it's time for him to sit back and listen to others. He needs to keep his comments and opinions about the state of the U.S. economy to himself. Get over it Alan, you time has been up!” -- Bryan Denney, Georgia

“Greenspan is a brilliant economist and a smart politician. So is Bernanke. I am confident that anything that Greenspan says is in line with what Bernanke wishes he could say. I wouldn’t be surprised if this was a tag-team approach.” -- Jason H., Georgia