Tuesday, September 18, 2007

Syntax Destruction

This past weekend Alan Greenspan was interviewed byLesley Stahl on 60 minutes. During the interview, what was known as "fedspeak" during his tenure as Fed Chairman was coined Syntax Destruction by the man himself. Here is what he told Lesley: "I would engage in some form of syntax destruction which sounded as though I were answering the question, but in fact, had not."

Lesley then went on to play a clip (you may be able to take a peak at it here on YouTube) of one of Mr. Greenspan's testimonies in Congress. I almost fell off my chair laughing. Here is what he said during that testimony:

"Modest preemptive action can obviate the need of more drastic actions at a later date and that could destabilize the economy."

Mr. Greenspan's reaction after he watched the clip, "Very profound." You could sense the sarcasm in his voice a mile away. Not that the Fed's actions matter much to us in the long run. But at least Mr. Greenspan's Fed provided us with some entertainment.

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