David Einhorn trash talks the Fed, the dollar, the banks

In a speech at Whitney Tilson's Value Investing Conference on Monday, hedge-fund icon David Einhorn of Greenlight Capital, perhaps best known for his massive bet against Lehman Bros., offered some wisdom on the economic outlook and how investors can protect themselves.

Einhorn pulled no punches. "Ben Bernanke and Tim Geithner have become the quintessential short-term decision makers," he said. "They explicitly do whatever it takes to solve one problem at a time and deal with the unintended consequences later. It is too soon for history to evaluate their work, because there hasn't been time for the unintended consequences of the 'do whatever it takes' decision-making to materialize."