Greenspan cries over his spilled reputation

But, he’s half right.

Half right in that many Congressional Democrats now lining up to shiv him were praising him to the skies, both just a couple of years ago and during the Clinton Administration.

The point is, many of his decisions were all wrong. But, he wasn’t alone in believing them. Gramm-Bliley-Leach got the support of more than half the Democrats in Congress. So did weakening of commodities legislation in the late 1990s.

It’s pretty hypocritical for Democrats like Sen. Chris Dodd, mentioned in the story, to blame Greenspan now when they were in on the fun in the past.

As for economists now criticizing Greenspan, you have to wonder how much of it is a battle of dueling legacies, or a battle for political influence after Jan. 20, 2009.