Saturday, December 15, 2001

Eleven and Counting
Embarrassing but true: Just one month ago the James A. Baker III Institute presented Alan Greenspan with its Enron Prize. I'm not suggesting any impropriety; it was just another indication of how deeply the failed energy company was enmeshed with our ruling elite.

And yet Mr. Greenspan also finds himself in Chapter 11. That is, the Fed has now cut interest rates 11 times this year, and has yet to see any results. What's going on?
http://www.nytimes.com/2001/12/14/opinion/14KRUG.html?todaysheadlines

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