September 17, 2007
Posted: September 17th, 2007 08:30 AM ET

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.

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Mac, Severn, Md   September 18th, 2007 6:33 pm ET

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.

Rob Tn   September 18th, 2007 11:54 am ET

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

KD, Dallas, TX   September 17th, 2007 9:27 pm ET

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.

James, Phoenix AZ   September 17th, 2007 6:26 pm ET

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.

Tom Brown, Charleston, SC   September 17th, 2007 5:35 pm ET

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.

Eduardo, Los Angeles, CA   September 17th, 2007 5:24 pm ET

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.....

J, Seattle, WA   September 17th, 2007 2:11 pm ET

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!

Veronica, Stamford, CT   September 17th, 2007 1:56 pm ET

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.

therealist   September 17th, 2007 1:44 pm ET

There is no doubt that the Republican's spent our tax dollars like drunk sailors while in the majority.

The only thing that could have been worse was if the Democrats had been in the majority and spent even more than that acting like drunken shoppers at a Tuesday night blue special.

As is now evident by this pitiful 110th's bloated budget. A budget mind you, that depends on the revoking of your tax cuts..., ie, raising your taxes.

Bob, New York, NY   September 17th, 2007 1:42 pm ET

We can all thank Greenspan for not speaking out against the loosening of lending rules since he bears at least partial responsibility for the subprime meltdown. How can a guy so smart not be able to figure out so many subprime mortgages would do to the market when the rates reset??

HAWK,TEXAS   September 17th, 2007 1:30 pm ET

WHO IS THIS NUT DANNY FROM W. VA. HE DOSEN'T NEED TO BE WATCHED. HE NEEDS TO BE LOOKED AFTER.

Jeff Spangler, Arlington, VA   September 17th, 2007 1:27 pm ET

Listen to Greenspan tear the Repellicans a new credibility gap on Meet the Press next Sunday 9-23-07.

Robert Brodowski, Syracuse, NY   September 17th, 2007 12:26 pm ET

To Ryan from New York,

That guy from West Virginia must be suffering from a lack of oxygen. It is the same stupid mentality that our President professes – "either your with us or your against us". I hope this is not representative of West Virginian voters.

Danny Casolaro Martinsburg, West Virginia   September 17th, 2007 12:19 pm ET

My logic, sir, is perfectly clear.

You and your liberal Greenspan friends clearly rejoiced on 9/11 and you hate America.

You belong in jail so that our land may remain free-in jail you can talk about how the Bermuda Triangle was responsible for the assassination of President Kennedy and how Elvis staged the Roswell incident while wearing a Bigfoot costume.

Hail Victory!
Hail America!
War is peace!

Ryan, New York, NY   September 17th, 2007 12:01 pm ET

I actually thought that Danny from W. Va was kidding in his first post, but having seen the second one, it's plainly clear that he's completely illogical.

How can one say, "Anyone who disagrees even the slightest bit with this President, this Administration, or representatives thereof, should be jailed immediately." in one sentence then say, "This is America—the land of the free. Anyone who disagrees with this statement must be jailed."?

Danny, your statements, denying the freedom to dissent, should have you jailed. It's people like you who are dangerous to democracy and who are a complete embarassment to the US by spreading such fascist ideas under the notion that you're supporting "freedom."

The only freedom that you think we should have is the freedom to do as George Bush tells us, which is no sort of freedom at all.

Mrs. America   September 17th, 2007 11:32 am ET

Glad to see Greenspan calling it like it is. Too little too late, however.

Grovin, Darnassus, IL   September 17th, 2007 11:26 am ET

Well, whaddya know? A principled Republican who tells it like it is. If the next generation of Republicans had been listening to guys like Greenspan, Warner and McCain instead of Rove, Rumsfeld, DeLay and Wolfowitz, the GOP wouldn't be having the PR crisis it is.

Dan, TX   September 17th, 2007 11:08 am ET

Republicans for Obama. I'll take common sense over dogma any day.

Danny Casolaro Martinsburg, West Virginia   September 17th, 2007 10:59 am ET

I most certainly was not "funin", sir.

This man (Greenspan)is a traitor.

Anyone who disagrees even the slightest bit with this President, this Administration, or representatives thereof, should be jailed immediately.

This is America-the land of the free. Anyone who disagrees with this statement must be jailed.

There are only two possible stances here-you either agree with every utterance and action of the Bush Administration or you believe that Bigfoot orchestrated 9/11 and the moon landing was faked.

E. C., Houston, Texas   September 17th, 2007 10:58 am ET

Greenspan is disgraceful. He has just destroyed his fine and honest legacy with his book and very late comments on what he thought....at the time. If Greenspan was so great, why didn't he speak up? Afterall, Greenspan has had the ear of ALL Presidents with whom he worked, and it was His Policy that steered this nation. A final book with unjust criticsm, unspoken thoughts, and ridiculous notions ruins the Greenspan Legacy. Not smart. Too bad.

E. C., Houston, Texas   September 17th, 2007 10:52 am ET

Vicente Fox became President of Mexico, and the U.S. was thrilled; Why? Fox was positioned to make dramatic and sweeping, unlimited changes in the Mexico of Old. Fox did Absolutely Nothing to enhance relations with the U.S. and Bush called his hand. Bush stood firm. Illegal Immigration could have been stopped forever with his cooperation, and Major choking Economic problems within Mexico solved. Fox gave no support to U.S. Laws or ideas for Mexico's problems. Fox was an inept person who disappointed everyone, including his country. Fox was NOT a Leader, but a Taker. What is Fox's Current Mission when he repeatedly visits Hispanics in the U.S.,i.e. Colorado, and gives speeches? Fox made No progress in Mexico and doesn't belong within our borders spreading his ludicrous propaganda. IMO, it is Fox who is cocky and Bush, the Real Leader.

louise,kannapolis,nc   September 17th, 2007 10:51 am ET

i can also say I am very proud of the fact that I never voted for george bush..his adminstration has made a mockery of the presidency..between sneeky,lying to the american people,destroying the meaning of our constitution...george bush stole the presidency..never thought I would never greenspan but him down...am proud of you greenspan...cannot believe anyone could be so dumb as to vote for bush one time ..but twice.."WAKE UP PEOPLE" before he destroys our UNITED STATES OF AMERICA !!!!!

therealist   September 17th, 2007 10:51 am ET

But what you yellow liberals fail to realize is that Greenspan is speaking strickly about finances as it pretains to a business.

You very same cat callers would be having hissy fits if Greenspan was in charge of the Congressional Budget. He would slash entitlements..., to my delight.

Blayze Kohime, Columbus, OH   September 17th, 2007 10:41 am ET

The GOP is totally different than the old Republican party was. It is shameful that they have became something so horrible. Honestly, I think ~real~ republicans need to put their foot down and take back their party, or even split away if necessary.

SAM c, ca   September 17th, 2007 10:37 am ET

THERE IS A SIMPLE SOLUTION: VOTE FOR RON PAUL.

roger, conway sc   September 17th, 2007 10:30 am ET

I have felt from the beginning that the Bush administration is corrupt & phony...they really don't care about anybody but themselves...I do believe that over the next few years we will learn even more about how corrupt this administration really is...I can proudly say I did not vote for him either time....and anyone that supports him after what he has done to our nation and the world has their head buried in the sand or are just as phony...

Cable King Pittsburgh Pa   September 17th, 2007 10:05 am ET

Yo Danny from W. Va,

Is W.Va in the United States of America? Nobody could have seriously written the comment attached to your name – please tell me that you were funin'!
PLEASE

S. B. Stein E.B. NJ   September 17th, 2007 9:49 am ET

If you saw any part of the 60 Minutes interview, Mr. Greenspan seemed down to earth as he could be. He is clearly still focused on economics. I just can't believe that his wife was wooed over his Sherman Anti-Trust act essay. Gee, how romantic can you get?

Danny Casolaro Martinsburg, West Virginia   September 17th, 2007 9:45 am ET

Clearly Alan Greenspan wears a tin foil hat, hates America, wants the terrorists to win, is a card-carrying Communist, and has never eaten a plate of Freedom Fries in his life.

Dan (Columbia, MD)   September 17th, 2007 9:36 am ET

While he may be right he's the former chairman of the FEDERAL RESERVE.

Nuff said.

Michael F., Kalamazoo, Michigan   September 17th, 2007 9:16 am ET

Not a huge surprise from Greenspan, seeing as he is an Objectivist and a member of the libertarian wing of the Republican Party. I just don't get the praising of Nixon, the politician most similar to GWB (perhaps Nixon's decisions were more principled than calculated?).

He is right, however, that the GOP in general, and the party leadership in particular, has lost their way. Not that the Democrats are any better (and, in some ways, they're far worse), but when one party shows they can't lead, the voters will let them know that they'll give the other side a chance.

WDRussell, East Liverpool, Ohio   September 17th, 2007 8:57 am ET

Folks, Elvis has left the building and he took the conservatives with him. You now have a party run by totalitarians and phony religious fanatics.

Mary, Beaver, PA   September 17th, 2007 8:56 am ET

Greenspan: "The GOP swapped principle for power." Exactly!

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