Bad news for those of you who have been grumbling that Alan Greenspan should shut up and let Ben Bernanke do his job.
In an
earlier blog post, I shied away from using the phrase "shut up" in connection with one of American capitalism's saintliest figures, but I figure it's OK now that Greenspan is on the paid speaking and consulting circuit (in other words, being a good capitalist himself).
The Wall Street Journal (C1) notes today that the "Maestro" has linked up with Bond King Bill Gross, and sure enough, there in my inbox this morning was the latest commentary from Gross with a cite mentioning "special consultant to Pimco Alan Greenspan."
What a pair — if Greenspan was famously unintelligible and terse during his term as Fed chairman, Gross is the exact opposite. His commentaries ramble on and on, lacing painstaking point-by-point analysis of the bond market with folksy and often strained metaphors. (Ignore the last part as my sour grapes: Gross enjoys the privilege of no word limits because he's really good at what he does, Pimco's recent record notwithstanding).
According to the Journal, Greenspan apparently will also be reviewing the analysis by Pimco's Paul McCulley, whose writing I like better, even though it's occasionally addressed to a pet rabbit named Morgan Le Fay.
The Maestro, the Bond King, and Morgan Le Fay. Who would've thought?
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