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Greenspan Is Given the Royal Treatment

September 27, 2002|From Bloomberg News

CRATHIE, Britain — It was a day of rational exuberance for Federal Reserve Chairman Alan Greenspan on Thursday.

He joined a select club of American presidents, film directors and comedians when Queen Elizabeth II awarded him an honorary knighthood. Greenspan, 76, received the honor and a cross-shaped medallion for his "outstanding contribution to global economic stability" at a ceremony at Balmoral Castle, the British royal family's Scottish residence.

"I deeply appreciate this honor and I will always cherish it," Greenspan said.

In announcing the knighthood last month, Britain said it was in recognition of "the benefit that the United Kingdom has received from the wisdom and skill" of the Fed chief.

But as an American, he isn't allowed to use the title "Sir," as only knighted British subjects are given that honor.

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