Under Mr Greenspan, whose memoirscame out this week (see article), the Fed won a name for being quick to cutrates when markets squealed but slow to raise them when the economy picked up.

根据本周出笼的格林斯潘的回忆录，美联储赢得了这样一个名声：当市场告急时迅速降息，但是经济回升时却疏于回调。

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Mr. Summers said he could not recall the conversation but agreed with Mr. Greenspan and Mr. Rubin that Ms. Born’s proposal was “highly problematic.”

萨默斯表示，他不记得有过这次对话，但是他赞成格林斯潘和鲁宾的观点，即伯恩的这份建议“问题重重 ”。

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"You can have huge amounts of regulation and I will guarantee nothing will go wrong," Mr. Greenspan told Congress, "but nothing will go right either."

“你可以有庞大的管理，我保证没有哪一条是错的，”格林斯潘先生告诉国会，“但是也没有哪一条是对的”。

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But Mr Greenspan is too honest and perhaps too canny to avoid the bad news altogether.

ECONOMIST: Squaring the circle | The

But Mr Greenspan is unlikely to be swayed by the force of their example.

ECONOMIST: Blaming everyone but themselves

But Mr Greenspan, who believes that new technology has raised America's sustainable rate of growth, has seen no need.

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