Greenspan’s legacy remains to be written

Re “The world’s banker,” editorial, Jan. 30

Former Federal Reserve Chairman Alan Greenspan defined his role rather narrowly. Rather than being the custodian for the world’s economy, he encouraged -- or at the very least did not discourage -- boom-and-bust cycles, enriching a few people at the expense of everyone else.

Perhaps he couldn’t have done more, but to gush over his legacy when our economy is facing a bursting housing bubble, ever-increasing budget and trade deficits and the impending retirement of the baby boomers is simply premature.

Will The Times still stand by its assessment if the dollar drops precipitously or if we’re facing a depression in a few years?

SRIDHAR SUBRAMANIAN

Santa Barbara