The Maestro in Concert

“The only thing people like more than a hero is to see a hero fall.”

As I listened to Alan Greenspan testify before Congress, I heard Representatives insult him, question his judgment, and repeatedly interrupt him. Say what? This is “The Maestro.” In years gone by, a politician’s main economic qualification might be his friendship with Alan the Mighty. How have the mighty fallen!

In the go-go years of the internet bubble no one could criticize the Chairman Now that cracks are appearing in the edifice of his worldview, these ladies and gentlemen are trying to paint him as one of the principal villains of the sub-prime crisis.

Anyone who follows this blog knows that I’m no fan of our celebrity culture. But when I hear a private citizen excoriated by our elected legislators, I have to agree with The Green Goblin’s statement above. If Greenspan had a failing, it was listening to the praise we formerly heaped on him.

Douglas R. Tengdin, CFA
Chief Investment Officer
Hit reply if you have any questions—I read them all!

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By |2017-07-17T12:35:24+00:00October 24th, 2008|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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