Will Grigg's Liberty Minute

September 19, 2007

The French diplomat Talleyrand was among history's most cunning political survivors, somehow holding on to power while his comrades were sent to the guillotine. Asked late in life why he'd never written his memoirs, Talleyrand replied: ?It's because I have nothing to hide.?

The chief function of a political memoir is to preserve one's historic reputation by deflecting blame to others. Former Federal Reserve Chairman Alan Greenspan takes that course in his new memoir, laying all of the blame for the ongoing economic meltdown on George W. Bush.

As Greenspan tells it, Bush refused to veto spending bills that drove the deficit and national debt to terrifying heights. This is certainly true. But it was Greenspan's Fed that pumped trillions of dollars into the economy, inflating a debt bubble the collapse of which threatens unprecedented economic ruin.

There is ample blame to go around for this, but Greenspan's was the hand at the printing press, however eager he is to conceal that fact.

Let us take back the liberty wherewith Christ has made us free.