Should Alan Greenspan be held accountable......?

Question

for all the economic messes he allowed to happen under his watch,like the Internet bubble,the subsequent accounting -corporate scandals, also the housing bubble he helped create as well. What a way to go Mr. Greenspan,our economy has been on a roller coaster for the last 10 years because he consciously didn't do his job as being the governor of the economy. Isn't that 1 of the responsibilities as being Fed Chairperson,to help stabilize the economy?

Answer 1

Greenspan was a Bush Lap Dog and was told his job will be on the line if he went against the will of George W Bush. You see, Bush thought this credit crisis wouldn't hit until well into the next Presidents term. He thought he would leave office with a Faux Economy and blame the new Sheriff.

Answer 2

The internet bubble simply happened on his watch, it wasn't Greenspan's fault that those companies didn't produce anything worth selling.  Greenspan is largely responsible for the collapse of the housing industry, he is the key player in that failure.  You can hold him accountable, but punishment is out of the question.  First, he is retired, second he was doing his job to the best of his ability, and for this one failure he has a history of making good decisions.  He had a hard task before him, and he made a mistake, a huge mistake no doubt, but a mistake nonetheless.

Answer 3

WTF for????  I think you need to open a book and do a little studying before you post another comment on Yahoo Answers.

The Fed doesn't control the banks.  It mearly sets the prime rate to borrow from the Federal Reserve.  Banks can do what they d**n well please.  It is America's fault that we have so many foreclosures now.  It isn't Greenspan's fault that people aren't living within their means.  

And as I recall Greenspan did foresee a recession.  That is why he was FIRED!

Answer 4

Actually, Mr. Greenspan made serveral warnings during his tenure regarding our rising national debt and famously "irrational exuberance" during the dot com boom.

I think politicians were working against him.  They didn't take his advice and rather pandered to the public for votes.

Let's place blame appropriately.

Answer 5

The Fed Chair isn't the one who sets economic policy.  He's not a legislator.  He's not the president.