Greenspan on Daily Show

Greenspan comments intelligently on the Federal Reserve dropping rate by 1/2 point, and the impact on the market. Stewart holds back on too many gags, and asks some good questions





Stewart: "So why do we have a Fed?"
Greenspan: "That is a very fundamental question..."

I liked this question, as it touches on the apparent conflict between Greenspan's publicly declared libertarian views, and his position as the Governments most senior financial regulator.

Stewart: "So, we're not a free market then?"
Greenspan: "You are quite correct. To the extent that there is a central bank governing the amount of money in the system. That is not a free market, and most people call it regulation."

Good stuff.

EDIT: Evidently good enough for no less than Greg Mankiw to comment.

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