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Is Alan Greenspan Looking Desperate?
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Published May 08, 2017
Is it me, or is Alan Greenspan looking desperate?
He's popping up everywhere defending his legacy.
Probably because a lot more folks are questioning it.
Wondering if old Al really was all that.
And Al ain't one bit pleased.
Says he can't be blamed for a credit crisis no one saw coming.
Maybe he's right.
It wouldn't be the first time those we thought had the inside scoop were, well, just scooped.
Think of all the Wall Street brainiacs who insisted there was no credit issue. Then there was.
Or the CEO of Bear Stearns telling folks the firm was in fine shape, 24 hours before the world discovered apparently it was not.
Or the former Citigroup boss who told investors the problem's contained, then it wasn't.
People in the know who didn't know.
With all their insight, all their expertise, all their money.
I'm not here to knock them, just remind us.
That they are rarely right.
Yet we hang on their every word.
Like when the energy department predicts gasoline prices will not go much beyond $3.60 a gallon, omitting the fact it never saw $3 gas coming.
Or the airline industry official who told me all planes are pretty much safe now, until American pulled 500 more off the runway to apparently make sure.
Sportscasters who said the New England Patriots couldn't lose.
Or political pundits who insisted John McCain couldn't win.
Reminders all from the folks who lecture us all, that maybe they shouldn't be lecturing at all.
Watch Neil Cavuto weekdays at 4 p.m. ET on "Your World with Cavuto" and send your comments to cavuto@foxnews.com
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