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|Knighthood for Greenspan
- US banker honoured by Queen for 'economic wisdom'
ALAN GREENSPAN, chairman of the Federal Reserve, America's central bank, is be handed a knighthood by the Queen.
The man credited by many with steering the US economy through its 1990s boom years won't be allowed to call himself 'Sir' - he's foreign after all - but will be permitted to put the initials KBE (Knight of the British Empire) after his name.
Some may think the timing of the award is strange given the pear shape of the American financial markets and recent research which has revised supposed 1990s US productivity gains downwards, but advisers to Her Majesty clearly do not agree citing Greenspan's "contribution to global economic stability" and "the benefit the UK has received from his wisdom and skill."