Chapter 3 The Master of Garblements

Chapters in this book

1. Frontmatter i
2. Contents v
3. Acknowledgments vii
4. Chapter 1 Hitting a Tank with a Stick 1
5. Chapter 2 The Burns Fed: Price Controls, Inflation, and the Watergate Cover-up with a Distinguished Professor at the Helm 12
6. Chapter 3 The Master of Garblements 32
7. Chapter 4 Spinning Mountains into Molehills 55
8. Chapter 5 Valuable Secrets and the Return of Greenspan’s “Prophetic Touch” 74
9. Chapter 6 The Seventeen-Year Lie 87
10. Chapter 7 Corrupted Airplanes and Computer Mice 106
11. Chapter 8 Standing in the Door against Civil Rights 122
12. Chapter 9 When Five Hundred Economists Are Not Enough 135
13. Chapter 10 The Myth of Political Virginity 148
14. Chapter 11 Pricking the Stock Market Bubble and Other Greenspan Policies 166
15. Chapter 12 Bring the Fed into the Democracy 182
16. Appendix. Excerpts from Waste and Abuse in the Federal Reserve’s Payment System 195
17. Notes 201
18. Glossary 251
19. Bibliography 255
20. Index 261