Alan Greenspan leaves his 18 year job of heading the Federal Reserve at the end of this month in the wake of mixed reviews.
His sharpest critics will echo the views of Ravi Batra, professor of economics at Southern Methodist University, who contends that “the real impact of Greenspan’s influence (was to) unwittingly effect … a global crash and spread economic misery on our planet”. Greenspan leaves with millions without health insurance, mountains of consumer debt and a record number of personal bankruptcies.
Less strident critics complain that Greenspan has handed his successor, Ben Bernanke, a poisoned chaliceLess strident critics complain that Greenspan has handed his successor a poisoned chalice.
At the same time, records Irwin Stelzer, a business adviser and director of economic policy studies at the Hudson Institute writing in the Sunday Times, Greenspan’s detractors stumble over the fact that he has racked up three notable successes………