Quote from Hello:
I met Gerald Bouey, stood side by side with him, and my dad told me when he was raising rates in the late 70's/early 80's to 20% he knew damn well he was driving people out of their houses, and the guy was nearly having a breakdown because he knew exactly what his policies were causing but they were necessary for the economy, none of these guys want to cause pain to the every day guy, it does not benefit them personally from a monetary standpoint, they play a thankless job, and people want to bag on them as though central bankers are running some sort of crooked conspiracy, it could definately be argued though that Greenspan wanted no part of proper control over the economy, and maybe he was a self serving asshole, and he wanted to be labeled as the good guy, bernanke isnt like that though, and no one before Greenspan ever was either.