Jammu, June 28 -- Allowed innovation in financial sector, opaque instruments of trade
By Anjan Roy
There are central bankers and central bankers. But Alan Greenspan, who died at the age of 100 four days back, was the central banker's central banker. The chairman of the US Federal Reserve is always much more than the head of any such institution by virtue of its impact all over the world. Alan Greenspan occupied that position with such aplomb.
Stepping in after a legendary predecessor, Paul Volker, who had given the science of monetary management a series of rules to go by, Alan Greenspan had a formidable task to live upto the legacy of his immediate predecessor.
However, soon after getting to grips with his new position, Greenspan threw...