Saturday, September 15, 2007

Greenspan with praise for Bill Clinton

No surprise here, from Greenspan's forthcoming book:
Of the presidents he worked with, Mr. Greenspan reserves his highest praise for Bill Clinton, whom he described in his book as a sponge for economic data who maintained “a consistent, disciplined focus on long-term economic growth.”

It was a presidency marred by the Monica Lewinsky scandal, he writes, but he fondly describes his alliance with two of Mr. Clinton’s Treasury secretaries, Robert E. Rubin and Lawrence H. Summers, in battling financial crises in Latin America and then Asia.

By contrast, Mr. Greenspan paints a picture of Mr. Bush as a man driven more by ideology and the desire to fulfill campaign promises made in 2000, incurious about the effects of his economic policy, and an administration incapable of executing policy.
And Greenspan adds his voice to the chorus documenting the damage done by the powerful Rove in Bush's White House:
“My friend,” he writes of Mr. O’Neill, “soon found himself to be the odd man out; much to my disappointment, economic policymaking in the Bush administration remained firmly in the hands of the White House staff.”

He was clearly referring to the political team led by Karl Rove at the White House. Mr. Rove was a neighbor of Mr. Greenspan in a leafy enclave near the Potomac River, but the two men almost never had a conversation.
More unfavourable history being written of the Bush administration, that's a shame...:)