Cover of "Capitalism: The Unknown Ideal"

Cover of Capitalism: The Unknown Ideal

When John Stossel of Fox Business Network wrote his recent “Memo to Alan Greenspan” column, he recounted many of Greenspan’s failings while Chairman of the Federal Reserve, including especially Greenspan’s relentless expansion of the money supply and lowering of interest rates that set in motion the housing bubble that burst in 2007.

But Stossel got one part of his memo wrong.