Business Week may have its doubts about Greenspan, but the Brits love him. Forbes.com reports that the British Treasury announced on Tuesday that Queen Elizabeth had approved an honorary knighthood (KBE) for Greenspan.
“The award is in recognition of his outstanding contribution to global economic stability and the benefit that … (Britain) has received from the wisdom and skill with which he has led the U.S. Federal Reserve Board,” according to press release issued by the British Treasury.
I have a feeling this will look about as good a judgement as Yasser Arafat’s Nobel Peace Prize in a year or two. Of course, in a year or two, Yasser Arafat’s Nobel Peace Prize could look prescient.