Gordon Brown is very proud of his friendship with Alan Greenspan, he has hailed him as “the world’s greatest economist” and “the most successful” central banker in history. When Greenspan stepped down from his role as chairman of the Federal Reserve, Brown quickly appointed him as an economic advisor to the British government. As Prime Minister, Brown has had Greenspan to stay at Chequers.
It is easy to see why Brown was so drawn to Greenspan and why he thought the association was politically beneficial. But in the coming months it could turn into a political liability for Brown. Rather than being seen as a friendship between two economic titans, it might come to be seen as one between two of the men responsible for the age of irresponsibility.
In the list of those who played a part in creating the conditions in which the current crisis has caused such damage, Greenspan has to feature
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