Alan Greenspan's job interview

Columnist Robert Novak reports today that just-retired Fed chairman Alan Greenspan accepted a $250,000 fee to speak to a "secret" dinner in Manhattan last Tuesday for partners and clients of Lehman Brothers, and he told them the markets are underestimating the Fed's future interest rate increases.

Under the rules of the Federal Reserve, Mr. Greenspan is not free to say things like that. Oh, wait, he didn't say it for free. He charged a quarter of a million dollars.

Mr. Novak reports that the former chairman's remarks were leaked by a Lehman Brothers executive who was not invited to the dinner.

It just can't be true. Surely Alan Greenspan, a man who has kept his tongue in something close to bondage restraints for all these years, wouldn't be so foolish as to violate the Fed's rules by selling hints of future Fed policy under the guise of speaking fees.

More likely the leaker is attempting to manipulate the markets for a quick gain.

Then again, if the former chairman is looking for work, he might be advertising that he can offer a prospective employer those little ups and extras that inside access can bring.

That would be tacky.

There must be a more ethical way for the former chairman to support his lifestyle. Maybe he can go to the U.N. and skim funds from poverty aid programs. Maybe he can run for a seat in the Palestinian parliament. Maybe he can set up an off-shore casino and get Janet Gretzky's cell phone number.

Whatever he does, he'd be well advised to cover his tracks very carefully. He's married to one of the best reporters in the business, and once Valentine's Day is over, a scoop is a scoop.


Copyright 2006


.