In January Mr Greenspan declared himself fully vindicated in his decision not to prick the stockmarket bubble in the late 1990s, but instead to wait for it to burst and then cut rates sharply to cushion the consequences.

ECONOMIST: The American economy

The Federal Reserve's Alan Greenspan has declared himself fully vindicated in his decision not to prick the stockmarket bubble in the late 1990s, but instead to wait for it to burst and then cut rates sharply to cushion the economic consequences.

ECONOMIST: Yesterday's financial architecture needs refurbishing

Instead, he felt that central banks should wait to mop up the mess once the bubble had burst.

ECONOMIST: A must-read on the origins of the crisis

In actual use, if you are watching something and you have a sudden burst of inspiration, all you need to do is hold the pen to the screen, and after a short wait the TV grabs a shot of the screen, much like taking a screenshot on a smartphone.

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