Alan Greenspan is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC.
Andrea Mitchell (m. 1997), Joan Mitchell (m. 1952–1953)
Parents
Rose Goldsmith, Herbert Greenspan
Nicknames
Dr. Alan Greenspan
Awards
U.S. Senator John Heinz Award for Greatest Public Service - Jefferson Awards(1976), Department of Defense Medal for Distinguished Public Service, Knight Commander of the Order of the British Empire, Presidential Medal of Freedom
Star Sign
Pisces
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Quote
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[on how the 2008 financial debacle changed his perspective] Most basic economics up to that point was based on the presumption that human beings are rational in that they look after their long-term self-interest. My shock was that what we now call animal spirits has a certain consistency about it. In other words, you can demonstrate that fear is a far more potent emotion than euphoria or greed. That changed the whole way I look at the world.
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[on dealing with the recession] Part of the way out is to slow down benefits. Very much to my surprise, benefits are crowding out savings of the society. The data are very clear in that regard.
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[on discord in the U.S. government, 2013] Clearly the problem is within the Republican Party. If you make every issue uncompromisable, you cannot have laws.
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You can have a financial system with banks making all sorts of horrible loans, but if they're well-capitalized all of the losses go to the shareholders.
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I was responsible for lots of things. Some good, some bad. But I'm realistic. Given what I knew at the time, could I have done better? Probably. Did I know it at the time? No.
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Fact
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Release of his book, "The Age of Turbulence: Adventures in a New World". [2007]
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Release of the book, "Alan Shrugged: The Life and Times of Alan Greenspan, the World's Most Powerful Banker" by Jerome Tuccille. [2002]
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He played music with Stan Getz when they were in school together.
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Attended New York University (NYV), where he received a B.S. in Economics (summa cum laude) in 1948 and a M.A. in Economics in 1950. He went on to Columbia University, intending to pursue advanced economic studies, but subsequently dropped out. In 1977, NYU also awarded him a Ph.D. in Economics. On December 14, 2005, he was awarded an honorary Doctor of Commercial Science degree by NYU.
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Awarded the Presidential Medal of Freedom by President George W. Bush in November 9, 2005.
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He is Jewish.
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Before studying economics, he attended Juilliard School of Music where he played clarinet and saxophone.
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In 2007, Forbes Magazine estimated his earnings for the year at $16 million.
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Former chairman of the Federal Reserve Bank (August 11, 1987 - January 31, 2006).
$10 Million
