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Former Fed Chair Greenspan’s Book Tops Online Sales

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MAIN NEWS HEADLINES
September 20 – September 27, 2007 Edition

Former Fed Chair
Greenspan’s Book Sales
Outrank Rowling, O.J.

NEW YORK, NY/9/18/2007–Alan Greenspan’s new book The Age of Turbulence climbed to No. 1 on bestseller lists at both Amazon.com and BarnesandNoble.com web sites, after its official September 17 release. At Amazon.com, the world’s largest Internet retailer, sales for The Age of Turbulence: Adventures in a New World are already surpassing O.J. Simpson’s book, “If I Did It: Confessions of the Killer,” and J.K. Rowling’s most current release in the Harry Potter series.

Mr. Greenspan’s 500-page memoir covers his life from the time of his youth through experiences while serving six presidents. Among the shocking quotes that have surfaced in his promotional appearances were observations he made to Lesley Stahl on CBS’s 60 Minutes. Mr. Greenspan stated that it was “politically inconvenient to acknowledge what everybody knows: the Iraq war is largely about oil.”

Referring to Saddam Hussein’s ‘weapons of mass destruction, Greenspan told Lesley Stahl that “American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the world economy.” He called the Bush administration bare-faced liars and characterized President George Bush’s fiscal policies as disorganized and irresponsible.

The book went on sale September 17, and Greenspan made personal appearances at New York bookstore signings throughout the week. He was expected to play to unusually large crowds at Barnes & Noble and Borders. Barnes & Noble spokeswoman Mary Ellen Keating said interest in the book is “huge.” Borders also expects this to be a “big book” in the fall and through the holidays, and will feature The Age of Turbulence as a top selection in e-mail promotions to Borders’ 20 million rewards program customers.

Penguin Press, a unit of Penguin Book Group USA, reportedly paid Greenspan $8.5 million for the book. The former Federal Reserve chairman, now age 81, held that position for 18 years until January 2006. He is credited with having played a key role in America’s 1991-2001 expansion.