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Greenspan lashes out at fellow Republicans

Alan Greenspan has a new book. He talks about lots of things, including how lowering interest rates to 1% in 2003 was "a decision done right" even though he knew it risked fostering a housing bubble. That was before the housing bubble burst and we saw the subprime meltdown.

Anyway, in his book he tears into the Bush administration and Congressional Republicans for abandoning basic conservative principles on the small government and fiscal control:

Mr. Greenspan, who calls himself a "lifelong libertarian Republican," writes that he advised the White House to veto some bills to curb "out-of-control" spending while the Republicans controlled Congress. He says President Bush's failure to do so "was a major mistake." Republicans in Congress, he writes, "swapped principle for power. They ended up with neither. They deserved to lose."
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