Greenspan denies role in U.S. policy
Former Fed chairman acknowledges frequent White House visits
Last Updated: Friday, November 6, 2009 | 6:10 PM MT
CBC News
Former U.S. Federal Reserve chairman Alan Greenspan told CBC News Friday he makes regular visits to the Obama White House, but he denied he still influences policy-making.
Greenspan made his remarks in an interview with David Gray of CBC Radio The Homestretch, based in Calgary, in advance of his public-speaking visit to the city on Tuesday.
Critics blame Greenspan's support for bank self-regulation for contributing to the U.S. financial crisis. (CBC)
Gray, noting White House visitor logs show Greenspan has visited the White House six times in the last nine months, asked whether the former central banker was still shaping American fiscal policy.
"I doubt it," replied Greenspan. "These are visits in which I discuss with old friends what I think is going on in the economy of the world. I have my research capabilities, I have a lot of data which no one else has got and they find it of use.
"If you translate that into significant influence on policy being made by the current administration, you would be far off. You would be making a very significant misstatement."
The interview will air in two parts Friday and Monday.
Critics have suggested Greenspan's long-time support for banking self-regulation contributed to the U.S. financial crisis, which he rejected in the interview with Gray.
Greenspan shared that view and, in the wide-ranging interview, addressed environmental activism in the oilsands, and the role of oil in the war in Iraq. (See sidebar.)
