The Age of Turbulence

Alan Greenspan's new book -- The Age of Turbulence -- comes out on September 17th. September 17th is significant for another reason however; it is the day before the next Federal Reserve meeting. This meeting might well be the most important of Chairman Ben Bernanke's tenure for a couple of reasons. First, this is the first time in over a year the consensus is that Chairman Bernanke will lower rates a quarter point to 5%. Second, this is the first Fed meeting after the credit crisis and represents the first major opportunity Bernanke has to distinguish his policies from those of Greenspan (namely on the Greenspan put issue).

The result of the meeting remains to be seen. But, one thing is for sure, with $100,000 speaking engagements, lucrative consulting arrangements (with the likes of German giants Deutsche Bank and Allianz's Pimco) and a healthy $8mm advance for his new book, Greenspan is finally cashing in on all those years he put in at the Fed. Surely Bernanke can expect similar treatment at the end of his term.