President Bush, left, smiles with Alan Greenspan after the longtime Fed chairman stepped down last year.
(CNN) - Former Federal Reserve Chairman Alan Greenspan slams President Bush and today's Republicans, while calling Richard Nixon and Bill Clinton "the smartest presidents" he worked with, according to an advance copy of his upcoming book.
He further says the GOP deserved the stomping it took in November's congressional elections - a ballot that saw both houses of Congress wrested from Republican control - because the party "swapped principle for power."
His book, "The Age of Turbulence: Adventures in a New World," is scheduled for release Monday. CNN obtained a copy Saturday.
From CNN Politics
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Why is it that Republicans decide, WAY AFTER THE FACT, to speak the truth? While I commend Greenspan for speaking what many already know and are afraid to voice, he COULD have opened his mouth a wee bit sooner.
Danny from Martinsburg, WV – Step away from the crack pipe ... PLEASE.
The Federal Reserve, the biggest hoax ever put upon the American Public. Greenspan criticizes Bush for his poor economic policies; but he enabled him. And why did he let interest rates get so low to cause this housing bubble. The dollar is going to collapse, we need to follow our founding fathers and go back to the gold standard! Vote for Ron Paul!
I have the utmost respect for Mr. Greenspan and his years serving our nation. He is also commendable for his loyalty while in office. However, why did he not speak up sooner? If Mr. Greenspan felt so strongly about his disagreement with the President and/or cabinet, he should have resigned and gone public. Hopefully, he is not coming forward at this time in order to promote book sales.....
I think the republicans would have been very happy if Greenspan had praised "W" and Reagan as smartest presidents in the history of United States.
Greenspan is the FORMER Fed Reserve because he had over-stayed his welcome. Greenspan contributed to the recession which began during Clinton's last year. Greenspans over-zealous use of raising interest rates crippled the stock markets.
Now that Alan is out of a job and limelight – he seeks to re-enter the world by slamming President Bush.
Your job is done, Mr Greenspan. Your political assertions are obviously much weaker than your fiscal evaluations. Keep to what you do know – which isn't politics.
Mr. Greenspan is a very respected person with much intelligence. You should be able to figure out why he didn't say anything until now.... what happened to people that questioned this administration? Most of them lost their jobs. There is a report put out about the intelligence levels of the past twenty presidents.... Clinton is on top with an IQ of 155, Bush is on the bottom with an IQ of around 95. Clearly a very average person compared to Clinton. Let's not just talk about intelligence as book smart, look at how Bush runs our country. It's obvious he has no intellect. Listen to him speak sometime. He doesn't attract the higher intelligence people.
As far Danny in West Virginia.... Good to know you only represent 30% of our country still too ignorant to admit they were wrong in voting Bush in twice and supporting his every move. You would have made Hitler very happy with your mindless thought process. Yes, freedom in being American is a wonderful thing. It does allow us to express our opinions publicly. I am so proud that I never voted for Bush and I vote in every election. I wish others could have seen through him.
1913 was the year we all got shafted by the creation of the FEDERAL RESERVE. All the money we have now is worthless. Its only worth money cause the feds say it is. it cost the same to print 0ne dollars as it does a 20,50,100 dollar bills but its magically worth more. Gold is through th roof right now. I say boot out the Fed Reserve and the likes and go back to the gold standard. RON PAUL for president or we can get more of the same. your choice
Mr. Greenspan has clarified what was written in his book (oil was NOT the MOTIVE for the war).
I think the media hood-winked the public again. Publishing – headlining – one line from a book without getting any comment or clarification from Mr. Greenspan was wrong. Lazy media – not checking anything. They knew this would send sparks flying but they CHOSE to not clarify.
We all need to be much more skeptical of this type of reporting. Right, left, conservative, liberal, it doesn't matter. We need to get more information before we make up our minds and/or form opinions based on what this media dishes out.