Rather than wasting so much time doing pre-emptive reputation management, as he did yesterday in the FT and today in the WSJ, ex- Fed chair Alan Greenspan might mull why so many people think he is so tone deaf to his own tone deafness.
Why? Because here is a guy who presided over back-to-back bubbles — tech equities and real estate — in the U.S. market, and yet seems genuinely puzzled why so many people are questioning his actions. Might he not have some minute responsibility for what happened on his econo-watch? Granted, greed helped, whether in dot-coms or in mortgage markets, but the Fed was a facilitator.