People are Starting to Get It About Alan "Bubbles" Greenspan

Patrick Artus, chief economist of Natixis SA and one of France's most listened-to pundits says that "very bad" Fed chairman. A quote from his interview:

Artus: Yes. Greenspan was an arsonist and a fireman combined. He derived all his glory from his reaction to the savings-and- loans crisis, to the collapse of Long-Term Capital Management LP, and to Sept. 11, 2001. But LTCM and the savings-and-loans crisis were his doing. He absolutely failed to see where the malfunctions in the U.S. economy were.

Greenspan came up with a phrase, "irrational exuberance," in 1997, but he didn't do anything about it.

According to the article, Stiglitz is similarly down on Greenspan.