James Clay Fuller

Things We're Not Supposed to Say

Friday, February 27, 2004

Was that Alan or Smeagol?

Many people have written about Federal Reserve Chairman Alan Greenspan’s Feb. 25 Congressional testimony, so I won’t comment on his remarks other than to agree with analysts who said he was blatantly dishonest, distorted facts, left out essential information and generally behaved despicably.

What really hit me in watching pieces of his act on television, and reading about it at length, was how pitiful he is. That is a man whose positions and actions once made sense, from his point of view, and his point of view was clear and firm. He knew what he was doing and bowed before no one.

What we saw Feb. 25 was an old man crawling for his master, acting against what, given his long history, he obviously believes. Greenspan always has enjoyed – absolutely loved and bathed in – his position of power and respect. He especially enjoyed the cachet it gave him with women, according to many reports, and he adores being adored and catered to; he loves the bowing and scraping as he passes by.

So there he was, a creepy 78-year-old Gollum who has worn the ring of power far too long, twisting himself into knots, demeaning himself, saying what he thought was wanted of him in the hope that our nominal president and crew will let him hold on to that position and prestige a little longer.

Made the bile rise in my throat.