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The World According to Greenspan
In the September 24 issue of Newsweek (on newsstands Monday, September 17), "The World According to Greenspan," Daniel Gross talks to former Fed Chairman Alan Greenspan on everything from China to the housing market, assesses his legacy and an excerpt covering what Greenspan thinks the economy may be like in 2030. Plus: Hispanic voters migration from the GOP; Israel's Mission of Mystery; Filmmaker Ken Burns' "War"; Ellis Cose on the Little Rock Nine 50 years later and tips on retiring early. (PRNewsFoto/Newsweek) NEW YORK, NY UNITED STATES
    COVER: The World According To Greenspan. (All overseas editions).
Senior Editor and Columnist Dan Gross writes that former Chairman of the
Federal Reserve Alan Greenspan considers himself the luckiest economist in
the world. Greenspan says he was "very fortunate" during his tenure in
which he led the world through vast economic changes and growth. "I emerged
on the scene at the beginning of this extraordinary half-generation." He
has been appointed and reappointed by four presidents, and having overseen
nearly two decades of nearly uninterrupted growth -- the U.S. economy
suffered just two brief recessions under his watch -- Greenspan has
arguably been the most successful public official of the past three
decades.
    http://www.msnbc.msn.com/id/20803168/site/newsweek/



    (Photo:  http://www.newscom.com/cgi-bin/prnh/20070916/NYSU001 )
    INTERVIEW: The Oracle Reveals All. As part of the cover package, Gross
and Editor Jon Meacham have a candid conversation with Greenspan about the
housing bubble burst, the sub-prime-mortgage market melt down, and the
credit crunch, which critics have charged the Fed contributed to by keeping
interest rates low for so long. "This particular problem was an accident
waiting to happen," he says. "The euphoria that existed in the expansion of
the housing market bubble induced investors around the world who'd had a
huge buildup in liquidity ... to invest in something with a higher rate of
return. And, lo and behold, the sub-prime-mortgage market provided it."
    http://www.msnbc.msn.com/id/20803170/site/newsweek/
    The Belgian Breakup. Special Correspondent Tracy McNicoll reports that
as Belgium enters 100 days without a government this week, new frenzied
talk of a separation between the country's Dutch-speaking Flemings and the
French-speaking Walloons has been growing louder. Although calls for
Flemish independence are not new, the current push is in part a reaction to
the continental superproject that surrounds it. The European Union
inadvertently makes the process of internal devolution easier and the
prospect of separation less dramatic, says Kris Deschouwer, a politics
professor at the Vrije Universiteit Brussel.
    http://www.msnbc.msn.com/id/20790114/site/newsweek/
    In The Face Of Death. Special Correspondent Sam Knight reports on the
story of Hazim Hanna and Emal Meskoni, an Iraqi couple who became two of
the first Iraqis working as translators for the U.S. embassy in Baghdad and
were later kidnapped and eventually killed. Their sad story illustrates the
dangers and the impossible situation the estimated 100,000 Iraqis face who
have and are still working for the American military, contractors, and
civilian companies.
    http://www.msnbc.msn.com/id/20789357/site/newsweek/
    With Friends Like George. Tokyo Bureau Chief Christian Caryl reports on
the growing list of global leaders taken down by their ties to the United
States. Last week Japan's Shinzo Abe joined the ranks of colleagues
including Spain's Jose Maria Aznar, Italy's Silvio Berlusconi and Britain's
Tony Blair, who found themselves pushed out of power when support for
America's wars lost traction with their own countrymen. While the Japanese
remain very pro-American, according to polls, many are revolting, in the
European way, against Bush's priorities -- the War on Terror and its
battlefields in Iraq and Afghanistan.
    http://www.msnbc.msn.com/id/20790121/site/newsweek/
    Brazil Cries 'Enough!' Special Correspondent Mac Margolis reports that
Brazil is working on doing to politics what it did to its economy a decade
ago. On Sept. 12, when the Brazilian senate cleared its scandal -- hounded
president, Renan Calheiros, of charges that he abused his office by using a
lobbyist for a government contractor to pay his personal bills, something
seemed to snap. From the bishopric to the bar association, Brazilians, who
have been historically tolerant of official corruption, lashed out, calling
the outcome a "disgrace" and "a national shame." This kind of backlash
suggests Latin America's biggest and perhaps unruliest country will no
longer turn the other cheek to official misdeeds.
    http://www.msnbc.msn.com/id/20790115/site/newsweek/
    The Fragile Democracy. Jorge Castaneda, Mexico's former foreign
minister, writes that the reforms passed by Mexico's Congress last week may
have been worse than none at all. While President Felipe Calderon's
administration wanted more revenue but no new election laws, opposition
leaders wanted electoral reform but no new taxes. Both got part of what
they wanted, meanwhile Mexico got a mess.
    http://www.msnbc.msn.com/id/20790117/site/newsweek/
    GLOBAL INVESTOR: The Catch-22 Of Economics. Contributing Editor Robert
J. Samuelson writes that there isn't a singular reason why the U.S. economy
is in its current state. In addition to miscalculation, incompetence,
predatory behavior and some criminality, the fact that the U.S. economy
grew in spite of daunting obstacles -- corporate scandals, 9/11, higher oil
prices -- may have also created a false sense of confidence.
    http://www.msnbc.msn.com/id/20790126/site/newsweek/
    HEALTH FOR LIFE: You and Your Quirky Kid. Senior Writer Lorraine Ali
reports on "quirky kids," or children who, for varying reasons, do not fit
in, and how to determine the difference between a nonconformist kid and a
child with more serious issues that may need to be addressed. Previous
generations of parents could embrace, or overlook, their child's tics,
quirks or eccentric personalities much more freely than parents today. Even
pediatricians were far less versed in disorders such as attention
deficit/hyperactivity disorder and the autism-spectrum disorders.
    http://www.msnbc.msn.com/id/20657188/site/newsweek/
    Homeroom Zombies. Lawrence Epstein, M.D., and Steven Mardon, authors of
"The Harvard Medical School Guide to a Good Night's Sleep," report that
adolescents who don't get enough rest have more learning, health, behavior
and mood problems than students who get at least nine hours a night, as
well as what parents can do to help their teens avoid sleep deprivation.
    http://www.msnbc.msn.com/id/20643572/site/newsweek/
    WORLD VIEW: Go Down in Iraq, But Go Long. Newsweek International Editor
Fareed Zakaria writes that without political change, military success in
Iraq is meaningless. The surge has proved that more troops can produce
enhanced security, but eventually American troops will have to leave. "What
will cement the security in those places that we control now is a political
deal among various factions in which they're all invested in stability,"
Zakaria writes. "Without such a power-sharing agreement, the order we build
will degenerate when we leave -- whether that's six months from now or six
years from now."
    http://www.msnbc.msn.com/id/20789358/site/newsweek/
    THE LAST WORD: A Legal Fight For Freedom. Pakistani Lawyer Aitzaz
Ahsan, a former Interior minister under Benazir Bhutto, who defended the
Supreme Court's Chief Justice Iftikhar Muhammad Chaudhry, told Newsweek
that former prime minister Nawaz Sharif's deportation may impact the
ongoing dialogue between Bhutto and Musharraf. "The PPP [Pakistan People's
Party] dialogue with Musharraf has certain parameters, which Miss Bhutto
has emphasized. One of her conditions has always been that there must be a
free and fair election with the return of all the exiles, including Nawaz
Sharif ... Is Musharraf prepared to let Sharif come back? If not, then one
of her major conditions is not being met. So what happens to the
negotiations? Negotiating with Musharraf carries a very high cost, as he is
the most unpopular, indeed hated, man in Pakistan."
    http://www.msnbc.msn.com/id/20790124/site/newsweek/
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