Alan Greenspan’s profile picture

Alan Greenspan

American economist
Alan Greenspan’s profile picture
Net worth 2018: $100 Million
Residence: New York City
Country: United States
BirthDay: 6 March 1926
Sigh: Aries
Education: New York University, Columbia University, Juilliard School
BIOGRAPHY

Alan Greenspan was bornon 6 March 1926 in New York City, American, is American economist. Alan Greenspan is an American economist who served as chairman of the Federal Reserve of the U.S from 1987 to 2006. He had a successful consulting career before he was appointed chairman by President Ronald Reagan and reappointed at successive four year intervals until his retirement, the second longest tenure in the position. A close friend of Ayn Rand, he was greatly influenced by her thoughts and concepts. He adopted her philosophy of individual effort, self-interest and laissez-faire capitalism. As the Chairman of the Council of Economic Advisers, during Gerald Ford’s presidency, he promoted policies that caused the rate of inflation to drop drastically. As the Chairman of the Federal Reserve Board, his monetary policy was aimed at avoiding the dangers of inflation and recession. He realized that the rates of growth and the stock prices would attain a point of saturation and warned the public about it. He is credited with longest official economic expansion in American history. He was recognized as one of the most powerful and influential persons internationally and has been conferred many awards and honors. However, in 2011 his image took a beating when the Financial Crisis Inquiry Commission found many of his policies to be detrimental in the long run.

NET WORTH STATISTIC
2018

$100 Million

TIMELINE
2011

In 2011, the ‘Financial Crisis Inquiry Commission’ declared that the global financial crisis three years earlier was due to his failure to curtail trade of securities during the housing bubble and his financial deregulation

1997

Greenspan married twice — first briefly to Joan Mitchell and then in 1997, he married Andrea Mitchell, a NBC reporter twenty years younger

1991

In 1991, President Bush nominated him for a second term as Fed chairman and for a full 14-year term as a member of the Fed's Board of Governors which was confirmed by the Senate

1987

The Asian economies experienced a financial crisis and economic slowdown in 1987

1981

In 1981, President Reagan appointed him the chairman of the newly constituted National Commission on Social Security Reform

1974

In 1974, President Nixon appointed him head of his Council of Economic Advisers

1969

He was appointed to the Commission for an All-Volunteer Armed Forces, commonly known as the Gates Commission, in March 1969

1968

In 1968, he was introduced to Richard Nixon by a friend and helped Nixon during his presidential election campaign

1954

In 1954, he became a partner with William Townsend in the consulting firm, ‘Townsend-Greenspan & Co

1948

From 1948 to 1953, he served as an economic analyst at ‘The National Industrial Conference Board’

1943

He graduated from George Washington High School in 1943 and joined the prestigious Julliard School to study clarinet which he had been playing with his high school mate, Stan Getz

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