Tuesday, April 8, 2008

Reputational Risk

Alan Greenspan, the "Maestro." It's an interesting time for the man who is now on the lecture circuit for probably a $100K an appearance. However, given what's going on, his legacy might be in trouble. Again, as I've stated, he didn't create the securitized products that have created our current market dislocation. But he certainly led the Fed during the time that the system was primed.

Most agree, Mr. Greenspan defined his legacy after the Crash of 1987, but his recent talk reminds me of the former Arthur Andersen partner who "lectured" to us in b-school about ethics. The best part of this partners lecture was when they promoted their book. I actually remember thinking that they were in jail and trying to tell us about ethics, but turns out, they just cashed a check "lecturing" to us about their struggle making mad money while looking the other way. It was tremendous, and reminds me of the Maestro.

WSJ Article

How the Bubble "Eluded" the Genius by Robert Shiller -- Must read

Alan's Missing Ph.D Thesis