Word: maestro
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Dates: during 2000-2009
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...Greenspan has ridden the twisting, turning, 10-year economic boom to a level of public consciousness that is surely as historic as the boom-and-burst itself. The Fed chairman was the subject of two biographies in 2000, "Maestro" and "The Man Behind Money," and regularly fields questions about whether he's more powerful than the President (especially this president). After riding TIME's cover as one of "The Committee to Save the World" in the wake of the Asian crisis in 1998; Greenspan may well now be angling to score Man of the Year...
...Marc Rich's lawyer, Jack Quinn, delivers a phone book-size pardon petition for Rich and his partner, Pincus Green, to White House counsel Beth Nolan. The petition includes more than 20 letters of support, including one from the mayor of Jerusalem and another from the maestro of the Israeli Philharmonic. (Rich's foundations have contributed some $200 million to Israeli and Jewish causes.) Nolan does not forward the petition to the Justice Department...
...Greenspan has lived up to his image as the maestro of monetary policy--and his remarks last week to the Senate Budget Committee at first seemed no exception. In a well-prepared statement, he reported on the current state of the economy and presented his conclusions on how to deal with ever-increasing surplus projections. He affirmed that the federal debt could be paid off sooner than expected, raising the question of what to do with the remaining surplus. To avoid "sub-optimal performance by our capital markets," the government should "eschew private asset accumulation" which usually leads to "surplus...
...books on Greenspan give the subject little attention. In Maestro: Greenspan's Fed and the American Boom (Simon & Schuster; 270 pages; $25), author Bob Woodward briefly notes that for a while Greenspan claimed "impotence about the stock market while doggedly trying to influence it." Woodward comes back to the subject only briefly to conclude that Greenspan ultimately gave up on such a strategy because the market is just too unpredictable...
...Maestro, an often tedious recounting of every Fed adjustment in short-term interest rates since 1987, we come to appreciate how brilliantly Greenspan manages the Federal Open Market Committee--the body that regularly meets and votes to set interest rates. We also get a revealing taste of the heavy politics involved and how Greenspan quietly and effectively shuffles through the most powerful ranks in Washington. Woodward, assistant managing editor of the Washington Post, makes a case for Greenspan's almost single-handedly engineering the prosperous 1990s. And his assertion that Greenspan sometimes literally gets a pain in the stomach...