I have written, and write, verses on different subjects,including politics. Some are satiric and some, I hope, amusing. Feel free to comment.

January 4, 2010

Greenspan Revisited*

When Greenspan at last decided to the Fed bid farewell
the consensus was that the job he did had been swell.
There were a few, however, who had not been impressed
and his unrelenting rate cutting left them distressed.

Why, they asked, punish those who managed their incomes with thrift
just to give the profligate spenders an interest cut gift?
Why his stubborn defence of deregulation
that gave hedgers and derivers irresistible temptation?

On reflection, were the admirers who said what he did was a miracle
expressing themselves in a manner satirical?
How else to explain the sudden about face
by the sycophants who swore no-one him could replace?

Distressed is a condition Greenspan admits he now feels
as from the torrent of criticism he unsteadily reels.
He also confesses he has been embarrassingly humbled
as he sees how his reputation has so rapidly crumbled.

Bob Woodward, in his customary hero-worshipping obsequious tone,
insisted as a money man Greenspan stood all alone.
“Maestro” was the name with which he would Alan baptize,
baffled that his hero will never get the Nobel Prize.

Will Bob, when he learns that Greenspan himself admits the disaster
be able to explain why he determined to name him the “Master”?
Will he be forced to utter a dejected “good grief”
when he learns of his hero’s state of shocked disbelief?

As Alan admits he only now knows the destructive power of wanton mortgage lending
does it mean he spent the intervening years in irrational exuberant elbow-bending?
So beware, you who do not once again wish down the river to be sold
for your idol may have feet of clay, though its head be made of gold.
*Written on 4 November 2008

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