Alan Greenspan en el banquillo de los acusados

La aparición de las memorias de Alan Greenspan La Edad de la Turbulencia , redactadas por un escritor fantasma, ha provocado acusaciones de que después de todo no fue un gran banquero central. Stan Collender, del National Journal , ve la huella de la Casa Blanca en estos ataques: Greenspan critica duramente a la administración de George W. Bush, y atacar la credibilidad de los ex encargados de políticas republicanos que critican a Bush es su respuesta normal. Pero, ¿qué pensar de la críticas a Greenspan mientras estuvo al frente de la Reserva Federal?

Se hacen cuatro acusaciones: que Greenspan equivocadamente promovió el crecimiento de las hipotecas atípicas de tasa variable que alimentaron la burbuja de los bienes inmuebles; que apoyó erróneamente los recortes fiscales de Bush; que debió haber controlado la burbuja del mercado accionario de la década de los 1990; y que debió haber hecho lo mismo con la burbuja de los bines inmuebles de la década de los 2000.

Sobre las primeras dos, Greenspan ahora se delcara culpable. Afirma que no entendió que el crecimiento de las hipotecas atípicas había provocado que los deudores y los inversionistas estuvieran dispuestos a correr riesgos peligrosos. Ahora dice que se estaba concentrando en que las hipotecas de tasa fija eran relativamente un mal negocio para los deudores en tiempos de inflación baja, lo que fue un error.

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