Alan Greenspan

Here is a nice editorial on Alan Greenspan. While there are some who judge him harshly depending on their economic and political perspectives, I think history will judge him most favorably. Presiding over two of the longest economic expansions in U.S. history is a feat by itself apart from inflation being at low levels. The recessions have been short as well. However, it is not that well documented that his policies partly allowed India and China to progress to their current economic strentgh. His influence was so powerful that Wall Street used to watch the briefcase he used to carry to FOMC meetings in order to get a clue on whether interest rates will rise or fall.