• Alan Greenspan is an economist and former Chairman of the Federal Reserve between 1987 and 2006.

• Fast Facts:

  1. Born: March 6, 1926
  2. 1987: Appointed Federal Reserve Chairman by President Ronald Reagan
  3. Married to Andrea Mitchell
  4. Preceded by Paul Volcker
  5. Succeeded by Ben Bernanke

• Early Life

  Alan Greenspan was born in Washington Heights, New York City. He received his bachelor's and master's degrees from New York University. Up until his appointment as chair of the Federal Reserve, Greenspan spent the majority of his career as the president of an economic consulting firm.

• Federal Reserve

  In 1987 he was appointed chairman of the Federal Reserve. Shortly after this, Wall Street experienced what is now known as Black Monday, and Greenspan was generally praised for his handling of the situation. He was also lauded for his approach to the dot-com boom of the 1990s. However, some have called the housing bubble that began in 2001 a failure on Greenspan's part. He stepped down as chair of the Federal Reserve on January 31, 2006, having set a record for his tenure that reached almost two decades.

• Economic Crisis

  While testifying in front of the House Oversight Committee in October of 2008, Greenspan spoke of the recent $700 billion Mortgage Bailout Plan, saying "the economic crisis has revealed a flaw in the model that I perceived as the critical functioning structure that defines how the world works."Seeking Alpha: Capitalism in Jeopardy (October 29, 2008) Greenspan said he believed that the United States would emerge from the financial crisis with stronger financial sense than before, but his statements prompted a massive sell-down in international markets.Phillipine Daily Inquirer: Greenspan shocks global markets (October 28, 2008)

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