Alan Greenspan didn't see the subprime crunch coming, the former Fed chairman tells CBS' "60 Minutes." Greenspan also gave his successor a pat on the back, saying Ben Bernanke "is doing an excellent job." Some have suggested that Bernanke isn't acting as presciently as his predecessor; not so, says Greenspan—"I'm not certain I would have done anything different."
Analysts tell Bloomberg that kudos from Greenspan can be a boon to Bernanke. Given Greenspan's "significant legacy and stature, giving Bernanke an 'atta-boy' in this environment is a positive boost for Bernanke," says a securities firm bigwig. The interview is scheduled to air Sunday, a day before the release of Greenspan's book "The Age of Turbulence."