Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession / Edition 1

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“We all owe a great debt to Fred Sheehan. Fred demolishes the myth of Alan Greenspan’s omniscience, while revealing the dangerous credulity of those who

set him on a pedestal above the rest of us. Panderer to Power will be invaluable in making the case for how we might preserve our solvency and our system.”

Seth A. Klarman, president, Baupost Group, L.L.C.

“Many have written about the man who used to be called ‘Maestro.’ But none has done so with such clarity of perception as Frederick Sheehan. Between the covers of this timely and important book, the former Fed

chairman stands revealed as America’s own Wizard of Oz.”

James Grant, editor, Grant’s Interest Rate Observer

“The Fed, Greenspan’s Fed, not only supplied the whiskey for the party, it led the charge for irresponsible behavior by essentially telling people ‘don’t worry, be happy.’ A thorough, in-depth look at the man who wrought so

much damage on so many, this brilliant effort by Fred Sheehan is a major step in setting the record straight on this era.”

Bill Fleckenstein, president, Fleckenstein Capital and co-author, Greenspan’s Bubbles

“Fred Sheehan vividly shows in his excellent and long overdue account, the devastating monetary policies the Fed has pursued under Mr. Greenspan, which have been continued by Mr. Bernanke. After reading Panderer to Power, you will have no respect for the U.S. Federal Reserve Board, politicians, and Wall Street.”

Marc Faber, editor, Gloom, Doom and Boom Report

"An important part of Sheehan's book is Greenspan’s role in expanding this country’s monetary base far behind our means.”
--Boston Business Journal, November 2009

"This well written, though obviously polemic, text documents the issues as he sees them. When read in conjunction with Greenspan’s own biography, a picture emerges of a complex, obviously smart man who may have been promoted to a position beyond his competence, but was expert at covering up and obfuscation."
--Troy Media, November 2009

About the Book:

Alan Greenspan’s 18-year stint as head

of the Federal Reserve Bank witnessed

some of the most massive upward redistributions

of wealth in our nation’s history.

It’s now clear that his policies contributed

greatly to the transformation of Wall Street

from an engine that financed American business

to a business-destroying machine—and

that Greenspan abetted the hollowing out of

the U.S. economy by giving Wall Street and

Washington everything they could possibly


To take the full measure of Greenspan’s culpability,

we need to look beyond the disgraced

public persona and see him within the broader

sweep of his life and times. In Panderer to

Power, author Frederick J. Sheehan delivers

the first in-depth, critical biography of the

man who, for nearly two decades, served as the

world’s most powerful banker.

Beginning with Greenspan’s formative years

as a Depression-era kid from New York City,

Sheehan traces his subject’s progress from

his days touring America as a reed man with

the Henry Jerome Orchestra in the 1940s

through his emergence as one of America’s

first celebrity economists to his ascent

through the ranks of power in D.C.

What emerges is a searing portrait of a

shameless media hound who ferociously promoted

his image as a straight-laced numbers

cruncher, a Machiavelli whose political skills

far surpassed his skills as an economist.

Drawing upon a vast array of original sources,

the author leaves little room for doubt: either

the “economic genius of our time” was oblivious

to the hazards of his irresponsible policy

decisions or he knew full well what he was doing,

but chose, as he had throughout his career,

to put self-interest above the public good.

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Product Details

  • ISBN-13: 9780071615426
  • Publisher: McGraw-Hill Professional Publishing
  • Publication date: 10/22/2009
  • Edition number: 1
  • Pages: 400
  • Sales rank: 1,554,589
  • Product dimensions: 6.42 (w) x 9.26 (h) x 1.26 (d)

Meet the Author

Frederick J. Sheehan is a former director

of asset allocation services at John Hancock

Financial Services and the coauthor of the

critically acclaimed Greenspan’s Bubbles. He

has written for Marc Faber’s Gloom, Boom

& Doom Report, Whiskey & Gunpowder, and

the Prudent Bear Web sites. He serves as an

advisor to investment firms and endowments.

He lives in the Boston area.

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Table of Contents

  1. “The Education of Alan Greenspan” - 1926-1959
  2. “The Best Years of Our Lives” - 1950-1959
  3. “Great Expectations” - 1959-1968
  4. “Shuttle Diplomacy” 1968.
  5. “Comeuppance” - 1969-1973
  6. “Showtime” 1973-1976
  7. “The Age of Ignorance” - 1971-1979
  8. “House of Horrors” - 1977-1979
  9. “Old Man in a Hurry” 1980-1983
  10. “Gourmet Economist” 1980-1988
  11. “Proxmire's Prophecy” 1985-1987
  12. “The Helmsman” 1987-1989
  13. “The Financial Economy” 1990-1994
  14. “The American Decade” 1994-1997
  15. “Soaking the Old and the Frail” 1995
  16. “” 1998
  17. “Opening Minds” 1999
  18. “Maestro” 2000
  19. “Mr. Coffee 2001
  20. Apologetics at Jackson Hole 2002
  21. Victory Lap - 2003
  22. Potemkin Village 2004
  23. Adieu 2005-2006
  24. The Crack up 2006-2008
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Sort by: Showing all of 2 Customer Reviews
  • Anonymous

    Posted June 22, 2012


    Money creation has to be given back to the people.

    The book confirmed everything I believe.

    Banks were created because people could not carry around their gold, so they had to store it in a bank. This was good until these banks discovered the miracle of credit - which is very good UNTIL it's abused. Credit WILL always be abused when we entrust our money to these unaccountable banks. Give people the power of credit instead of banks because banks are no longer necessary.

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  • Anonymous

    Posted January 30, 2012

    No text was provided for this review.

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