Alan Greenspan: Genius or Liability?

Alan Greenspan became something of a cult figure in the financial markets during his reign as Chairman of the Federal Reserve, both in the financial markets and in the media. As central banker of the largest economic powerhouse, his every move and utterance were scrutinized as markets boomed and reeled, often based on his speeches and long winded assessments. There was even a jargon attributed to him, “Greenspeak” which was a blend of seldom understood nuances and signals. Most bond traders, glued to their screens during his prose, would simply be baffled by the amount of cross currents in his statements. Financial media, obsessed with Fed action over monetary policy, went as far as trying to gauge his upcoming decisions, based solely on the perceived size of his briefcase, or the tempo of his walk into the Federal Reserve building. The man wielded great power, and maintained, despite his friendships