The Stock Market As Monetary Policy Junkie – Evergreen Gavekal

The Stock Market As Monetary Policy Junkie by Evergreen Gavekal CHAIRMAN WAXMAN: “You found a flaw?” MR. GREENSPAN: “I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works, so to speak.” CHAIRMAN WAXMAN: “In other words, you found that your view of the world, your ideology, was not right, it was not working.” MR. GREENSPAN: “Precisely. That’s precisely the reason I was shocked, because I had been going for 40 years or more with very considerable evidence that it was working exceptionally well.” – Congressional Hearing on The Financial…