On-Line Discussion HW ($7, maybe more) AFTER READING AND REFLECTING ON THE ARTICLE: LAWMAKERS NEED TO GRILL THE GURU: Respond with comments on what you find most valuable about the article. Do you agree with anything stated in the article? Disagree? Or, lastly, is there anything menioned that you still do not understand and want another student or myself to explain???

-- Anonymous, April 09, 2002

Answers

I would say that i would have to agree with the article. Because lawmakers do not have to do with anything that alan greenspan. He is the the chairman of the FED, like it says in the article. "his job is to steer the United States economy to stable prices and the fasest sustainable growth and to maitain financial stability." He is the lawmaker in the FED but he is not the lawmaker of what every body is supose to be doing.

-- Anonymous, April 11, 2002

I like the way the article was written. It portrayed Greenspan as a hero and also a human being. The article was not biased. The thing that I don't clearly understand in the article is that is says, "the markets" are doing this and doing that. "The markets" are responsible. Well what exactly is meant by the markets.

-- Anonymous, April 11, 2002

In response to the article "Lawmakers need to grill the guru" the author does a really good job expressing just how powerful Alan Greenspan really is. During the semester I have learned how Alan has a lot of power over a lot of things. After reading the article it made this very evident. I thought this was a good article. It was very informative. Lastly, I will never understand how someone Alan Greenspan's age could handle a job like this.

-- Anonymous, April 14, 2002

I thought the article Lawmakers need to grill the guru was very interesting. The article brought out some very interesting points. One statement bothered me and that was when Greenspan retires in the middle of Bush's campaign and without Greenspan tutoring a successor what indeed will happen to the U.S.A.

-- Anonymous, April 14, 2002

The article LAWMAKERS NEED TO GRILL THE GURU was very interesting but confusing at the same time. I agreed with the fact that The FED is very powerful and Greenspan is even more so. I also agree that lawmakers should not ask Greenspan any questions other than what pertains to him such as monetary policy. On the otherhand I believe that lawmakers respect Greenspan's intelligence and that is why they want to know how he views the economy as a whole. I do not understand how he says that Greenspan can't and won't explain how he masters monetary policy. Please explain.

-- Anonymous, April 15, 2002

Assigning Alan Greenspan commendable labels such as “Oracle” and “Wise One” are what the article “Lawmakers Need to Grill the Guru” does best. He is worthy of these titles; seeing as he is the foremost man serving us the economy in the style we (the average Americans) require it. This article also does a great job clarifying how influential Greenspan, in fact, is in our government. The questions inquired about him need not be asked. We should just allow The Man to do what he does best, and he will keep the economy stable and comfortable so we (the average Americans) don’t have to worry about it. Optimistically, I hope, he has or will mentor some kind of successor and provide all of his wisdom to that person (or persons), so we can be a little MORE comfortable with his age and our nations future. If not, and he chooses to keep this vast knowledge to himself, then I hope he doesn't plan on dieing to soon!

-- Anonymous, April 16, 2002

I thought the articule was very interesting on how Alan Greenspan is respected. And the articule is right when it mentions that lawmakers should not ask questions other than what he is responsible for such as monetary policy. My concern is whats going to happen when Alan leaves is he training anybody is there someone out there that is prepared to take our economy and keep it as well as Alan Green

-- Anonymous, April 16, 2002

The article pointed out a good point, the politicians who make decisions are wanting the governor of the federal reserve to make the decisions for them as if they have a crystal ball. Politicians need to let the Governor do his/her job which is monetary policy and politicans do their fiscal policy. The author did justice to Greenspan when they called him Guru, Wise One and a master of monetary policy. I do not think Treasury Secretary O'Neill was being too radical when he suggested that company CEO's should be held personally responsible if financial statements or statements of the company are misleading. What is disappointing reference Greenspan is his failure to inform others of his ideas and how he comes to those ideas. Hopefully we have young Greenspan in the making that we are unaware of.

-- Anonymous, April 16, 2002

I would have to say I agree with this article. It was well written and really portrayed Alan Greenspan as a powerful and well respected man. The only question I have is what exactly are the markets doing? Do they mean the economy a whole?

-- Anonymous, April 16, 2002

I would have to agree with the article "Lawmakers Need to Grill the Guru".This article really explained to me what Alen Greenspan job is all about. I didn't know to much about.There was one part of the aricle when it's talking about inflations it said ask Japan. Ask Japan what? I don't know what there're talking there.

-- Anonymous, April 16, 2002

The thing that I found the most valuable in this article was in the first two paragraphs. It stated basically that legislators just want Greenspan as a prop and to agree or side with one of them. That they really do not ask questions that he can answer and have authority on. The article really hit some good points about how there are matters that need questioned but the legislature is not interested in those issues. The article was about Greenspan, but it also targeted how Congress is not making good decisions about the questions to be asked and real concerns that Greenspan has authority over.

-- Anonymous, April 16, 2002

In response to the article,Lawmakers Need to Grill the Guru, I would have to agree with the fact that Alan Greenspans job is to worry about stabalizing the economy and leave the lawmakers to focus on their jobs. I was a little disturbed about the statement that Greenspan won't -or can't- explain how he does what he does. Why does he not want his successor to know how to keep the American ecomomy right were it needs to be?

-- Anonymous, April 16, 2002

I think this was a good article for explaining the purpose of Alan Greenspan and the Fed's positions in our economy. What I want to know is what will happen if inflation does get to low? And how does the unemployment rate effect inflation?

-- Anonymous, April 16, 2002

On the article "Lawmakers need to grill the guru", I found it really interesting. What I vauled the most was the way he said " I get up every morning and think about the economic outlook". I ask myself, what is it going to be like when his term expires in June of 2004. It seems like everyone depends on him so much that when he leaves, their might not be a smarter man than him that can figure out our economic outlook.

-- Anonymous, April 16, 2002

I thought that the unemployment rate question was pretty interesting. On how he refers to it at thae degree of slack in the labor market. Since that is exactly what it is. I agree with the article. Greenspan made good comments in the article.

-- Anonymous, April 16, 2002

It says in this article that when Alan appears before the House Financial Services Committee, that legislators should ask valid questions. Things that he is directly responsible for. They ask him his thoughts on last years tax cuts or Social Security, things he has nothing to do with. Why?

-- Anonymous, April 17, 2002