The Biography of Alan Greenspan
In any case, the tightening cycle that began in June 2004 was arguably the most aggressive of any since the early 1980s. Perhaps most tellingly, Greenspan never espoused a policy of benign neglect of financial risks during his time at the Fed; instead, starting with the October 1987 stock market crash in the early months of his term, he stood ready to use the Feds lending, supervisory. A close friend of Ayn Rand, he was greatly influenced by her thoughts and concepts. Greenspan was (and is) a fascinating and often enigmatic charactera mostly self-taught economist; a jazz musician; a skilled political operator and policy adviser; a socialite and ladys man; a connoisseur of economic arcana; and, of course, the Maestro for more than 18 years at the. Former Chairman of the Federal Reserve Alan Greenspan was once hailed as the omnipotent maestro of the.S. In 1968, he was introduced to Richard Nixon by a friend and helped Nixon during his presidential election campaign.
Mallabys explanation emphasizes psychological, rather than analytical, failures on Greenspans part. First, if he had chosen to do so, the Chairman could have leaned, in public and in private, against the deregulatory trends of the late nineties. With that background, how much credence should we give to Mallabys argument that Greenspans personality the product of an absent, pale father and the presence of a vivid mother was the basis of his monetary policy choices? He was of Jewish descent. Read an excerpt of, the Man Who Knew. The Man Who Knew won the 2016, financial Times and McKinsey Business Book of the Year Award. His appointment by President George. When Townsend died four years later he bought out his share and became the president of the company. Supported by both banks and the housing industry, and with huge profits available to use to advance their political goals, the GSEs were basically untouchable in the years before their shocking demise in 2008. Comments are now closed for this post. He is particularly effective in debunking the conventional view that Greenspanan acolyte, in his youth, of the libertarian philosopher Ayn Randwas a free-market ideologue who was blinkered to the risks of financial instability and reflexively opposed to all financial regulation. Greenspan who had just taken over command at the Fed, acted quickly to ensure liquidity in the markets.
Alan Greenspan - Economist, Government Official - Biography
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