Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, January 12, 2012

Is Greenspan "Pretty Terrific" Today?

The Fed released transcripts of eight Federal Open Market Committee Meetings for 2006 (there is a five-year lag in releasing them), and the Wall St. Journal has some excerpts.  Here is a funny one:

JAN. 31: Alan Greenspan is chief for the last time during the meeting of the Fed’s decision-making body. Fed officials spend much of their time praising him. “I’d like the record to show that I think you’re pretty terrific, too,” says Timothy Geithner. “And thinking in terms of probabilities, I think the risk that we decide in the future that you’re even better than we think is higher than the alternative.”

WSJ, Fed 2006 Transcript Highlights: Riding Housing Roller Coaster With Eyes Shut.

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