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Deception and Abuse at the Fed: Henry B. Gonzalez Battles Alan Greenspan's Bank [NOOK Book]
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Ch. 1 Hitting a Tank with a Stick 1
Ch. 2 The Burns Fed: Price Controls, Inflation, and the Watergate Cover-up with a Distinguished Professor at the Helm 12
Ch. 3 The Master of Garblements 32
Ch. 4 Spinning Mountains into Molehills 55
Ch. 5 Valuable Secrets and the Return of Greenspan's "Prophetic Touch" 74
Ch. 6 The Seventeen-Year Lie 87
Ch. 7 Corrupted Airplanes and Computer Mice 106
Ch. 8 Standing in the Door against Civil Rights 122
Ch. 9 When Five Hundred Economists Are Not Enough 135
Ch. 10 The Myth of Political Virginity 148
Ch. 11 Pricking the Stock Market Bubble and Other Greenspan Policies 166
Ch. 12 Bring the Fed into the Democracy 182
Appendix Excerpts from Waste and Abuse in the Federal Reserve's Payment System 195
Notes 201
Glossary 251
Bibliography 255
Index 261
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Overview
The Federal Reserve-the central bank of the United States-is the most powerful peacetime bureaucracy in the federal government. Under the chairmanship of Alan Greenspan (1987-2006), the Fed achieved near mythical status for its part in managing the economy, and Greenspan was lauded as a genius. Few seemed to notice or care that Fed officials operated secretly with almost no public accountability. There was a courageous exception to this lack of oversight, however: Henry B. Gonzalez (D-TX)-chairman of the U.S. House of Representatives Financial Services (banking) Committee. In Deception and Abuse at the Fed, Robert Auerbach, a former banking committee investigator, recounts major instances of Fed mismanagement and abuse of ...