Greenspan slammed II
Criticism of former Fed Chairman Alan Greenspan, as delineated earlier on MacroScope by Mark Felsenthal, is stretching beyond his legacy. Calls are being made in Britain for Greenspan to be stripped of his honorary knighthood.
The latest salvo comes from Albert Edwards, an outspoken London-based analyst at Societe Generale. He accuses the ex-Fed chief of “criminally poor policy making, economic negligence and a worrying total lack of insight for what he has done”.
Perhaps most hurtful for Greenspan — if he cares — is Edwards’ idea that Greenspan should lose the “Sir” before Sir Fred Goodwin does. In Britain, the former chief executive of Royal Bank of Scotland, has become the poster child for irrationally exuberant executive payouts.