Wednesday, November 28, 2007

Week 4, post a

"Alan, I want you to be my chairman of the Federal Reserve Board"(pg.99)

This quote was said by Ronald Reagan to Alan Greenspan. This quote is significant because being the chairman of the Federal Reserve is one of the most powerful positions in the world. Alan accepted and became the chairman of the Federal Reserve.

The scope of the problem beggared the imagination.(pg.116)
Beggared-to exceed the resources or abilities of

a major-league policy intellectual and a believer in sound fiscal management(pg.118)
Fiscal-of or relating to taxation, public revenues, or public debt

"Merriam-Webster Online" 28 Nov. 2007

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