I was up late last night in turbulence. At 1 am, sticking to my principles by not cutting the federal funds rate seemed like a good idea, especially since book sales are highly elastic — and not cutting the interest rate would hurt sales of Alan Greenspan’s new book, The Age of Turbulence [For My Successor].

I woke up this morning to over 30 voicemails from George, bankers and a few congressmen representing the ugly house constituency, it was hard to follow my resolve from the previous night. I gave in. So sue me. It’ll probably raise my book advance by at least a million after I retire. I just hope I’m not at the business end of a Ponzi scheme.