Greenspan tapped for Treasury


Senior Republicans have allegedly sounded out Fed chairman Alan Greenspan to see if he would be willing to replace U.S. Treasury secretary John Snow. There is no reason to expect Greenspan to accept the offer, since it would involve a veritable demotion in positions. As Fed chairman, he is acknowledged as the "second most powerful man in the world" (second to the President). So why should he accept it?

Let us also not forget Greenspan's age: 78. Almost old enough to be on the Supreme Court, but too old for a thankless position such as Treasury Secretary, which, nowadays, is little more than a whipping boy post.

If Greenspan were smart, he would get out while the going is still somewhat good; get off the ship before it sinks. Of course, the very act of leaving the Fed could trigger a major economic collapse. That is how fragile the current economy is.

Posted: Sat - December 18, 2004 at 05:44 PM          

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