Tuesday, September 15, 2009
Alan Greenspan, the man once regarded as the world’s most powerful banker declared that the Iraq war was ‘largely’ about oil. First appointed by Ronald Reagan in 1987 and retired last year after serving four presidents, Greenspan made the admission in his long-awaited memoir, The Age of Turbulence: Adventures in a New World, available in bookstores tomorrow.
Now 81, Greenspan, 81, who served as chairman of the US Federal Reserve for almost two decades, writes:
‘I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.’
In The Age of Turbulence: Adventures in a New World, he is also crystal clear on his opinion of his last two bosses, harshly criticising George W Bush for ‘abandoning fiscal constraint’ and praising Bill Clinton’s anti-deficit policies during the Nineties as ‘an act of political courage’. He also speaks of Clinton’s sharp and ‘curious’ mind, and ‘old-fashioned’ caution about the dangers of debt.
Greenspan’s damning comments about the war come as a survey of Iraqis, which was released last week, claims that up to 1.2 million people may have died because of the conflict in Iraq, lending weight to a 2006 survey in the Lancet that reported similarly high levels.