The leaders of the Federal Reserve went around the room saluting Alan Greenspan during his last major meeting as chairman of the central bank Jan. 31, 2006. Then Timothy F. Geithner, at the time the president of the Federal Reserve Bank of New York and now Treasury secretary, made a prediction. “I’d like the record to show that I think you’re pretty terrific, too,” Geithner told Greenspan. “And thinking in terms of probabilities, I think the risk that we decide in the future that you’re even better than we think is higher than the alternative.” Some six years later, Greenspan’s record — sterling when he left the ... (full story)