Looks Like the $8 Mln Will Payoff Big Time

$8 mln is the hefty advance Alan Greenspan was reported to have received for the writing of his memoirs entitled, "The Age of Turbulence: Adventures in a New World," published by Penguin Press.

The Times of London has focused in on one line in the over 500 page book: “I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.” That, in turn, has prompted Drudge to put a blaring bid red headline up on his site to link to the story by the Times of London:

SHOCK: GREENSPAN CLAIMS IRAQ WAR WAS REALLY FOR OIL

With the pre-release publicity (book to be released Monday), Greenspan will sell a ton of books. Penguin is sure to profit greatly from its original investment. Greenspan will likely make even more through bonuses for topping best seller lists, escalators for other milestones, paperback, overseas versions of his book, etc.

While Greeny will be laughing all the way to the bank, it will be fascinating to see how the Bush machine will try to discredit Greenspan in the coming days. You can bet the attack dogs will be released.