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People have too high of expectations. They expect to see 1 man predict every single scenario and understand and anticipate the business practices of everything thats possible or could one day be a possibility, even when its not their responsibility.
He did a good job, there was a lot of stuff he recommended on the fiscal policy side that went totally ignored, that would make things not nearly as bad as today, for example, years ago he begged congress to reinstate legislation that mandated the checks and balances so the budget was balanced, it got repealed. this is one of the main reasons why the dollar is so weak today.
lastly, he was the chairman of the fed. the main regulatory body is the SEC, which he has no role with respect to regulatory things. his main roles and responsibilities are essentially monetary policy decisions - adjusting federal funds rates and supply of money using open market comittee. all people can say is that he kept rates for too low, thus causing an environment of lending, but at end of day, how the fuck is he supposed to know all the shady shit these companies were doing and what impact they (brand new complex financial instruments) had? very few people understood any of it, including the people who created them, made all their money from them, and now whose companies are imploding because of them. you can only ask for so much from one person... :2cents
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