Alan Greenspan, the man who steered the world economy, dies at 97
They called him the maestro until the whole house of cards came crashing down.
For nearly two decades, Alan Greenspan was basically the Wizard of Oz of the Federal Reserve. Everyone treated his cryptic, boring speeches like gospel. If he cleared his throat, the entire Wall Street went into a panic or a party.
He was the king of the boom years. People actually thought he’d solved the code to never-ending prosperity. Then 2008 hit, and suddenly the guy who was supposed to be the smartest person in the room looked like he’d been asleep at the wheel during the worst financial collapse in a generation.
It is a hell of a legacy to be hailed as a genius right up until the point where the global economy catches fire.
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