Reuters has a headline that sounds much sillier than it actually is: Greenspan Urges Curbs on Fannie, Freddie.

At first glance, most people are going to think the Fed Chairman doesn't want to see any more people named Fannie or Freddie. I don't have anything against Freddies, but I agree we could definitely use less people named Fannie.

What financial people (and dorks like me) know is that Greenspan is actually talking about the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Years ago, money people who aren't as clever as they think nicknamed the two organizations Fannie Mae and Freddie Mac.

Entertained by the headline, I read the article. It would have been a lot more exciting if Greenspan actually was trashmouthing people named Fannie.

Reuters (U.S.)
Fannie Mae
Freddie Mac

Paul Krugman at the New York Times said about Greenspan pretty much the same thing I did.

"Does anyone still take Mr. Greenspan's pose as a nonpartisan font of wisdom seriously?"

It's nice to have famous smart people saying the same things I am.

Of course, that still doesn't mean I'm correct. Krugman and I could both be full of it.

New York Times

Or something like that.

Greenspan's been talking about tax reform again. At least this time his thoughts are logical and sensible. In fact, his ideas are pretty good.

It's a shame that no one really listens to him anymore.

I remember those heady days in the late 90s when Greenspan spoke and it was like the word of God. He was so respected, the whole world would hang on his every word. You remember the "Asian Financial Crisis" around 1998? Greenspan fixed that. You know how? He held a meeting.

One meeting, one rate tweak, and the global economy was realigned.

But that was before he started shilling for the Bush administration. Three or four years ago, he got "the talk." The do-as-I-say-or-I'll-fire-you talk. Before the talk, Greenspan was respected for his independence and his wisdom. After the talk, nobody cared what he had to say.

Since he's been gone, I've missed the old Greenspan. When he's gone, I won't miss the new Greenspan.

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