Alan Greenspan( Banker)
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Biography Alan Greenspan
Alan Greenspan, has been ten years headed the U.S. Federal Reserve - the most powerful man in the world. Even more powerful than the president of the United States.
He never speaks in front of TV cameras for more than two sentences, but they listened with bated breath the whole world. He knows that the main virtue of head of any central bank - the ability not to disturb the market and its very worried-uchastnikov.Poetomu Greenspan appears in the news rarely. More precisely, in two cases: when there is a crisis and abruptly changed when the dollar. So the less heard of Greenspan, the better for all.
Until now, Alan Greenspan has never held press conferences and interviews given after making sure that all the recorders are turned off. Before cameras Greenspan ably off with a very vague phrases that could be interpreted as anything. In 1995, the day after one of Greenspan's speech, he brought two newspapers. One was written: "Greenspan hinted that the Fed may cut interest rates". Another said: "Greenspan has expressed doubts that the rate cut is possible". It was then chairman of the Fed and coined the phrase, which since then completes the speech: "If you thought that I put too clearly, you must be wrong to understand me". Even in the U.S. Congress, which largely depends the fate of Greenspan and where, apparently, the most conspicuous place of eloquence, he is laconic. One congressman asked him a question which in the transcript took 123 lines. A fit on three.
But the austere and aloofness Greenspan is only at official events. Not being "in the performance, it completely different - happy to play tennis and golf with various celebrities, including from the media-world, appears regularly on secular gatherings, almost always in the society ladies. Among the many outstanding women Greenspan. He was married to actress Joan Mitchell. Then his girlfriend for many years was Barbara Walters, a well-known television journalist, ABC, who once remarked: "I have never heard of Alan raised his voice, it's incredibly patient,. He is characterized by such features as self-restraint, prudence and even a certain stinginess. Six months ago, 71-year-old Greenspan was married to Andrea Mitchell, NBC special correspondent of the company. He suggested that Andrea's hand, only 12 years after he gave his heart and the wedding was in an old blue suit.
However, one must admit that the nature of Greenspan as well as possible consistent with the style he headed the establishment. Fed-enclosed structure with an extremely rigid hierarchies, and the uninitiated it is very difficult to understand the logic of its work. His understanding is available only result. As one of its employees, the Federal Reserve - a band, which is operated by an experienced conductor. And this comparison is not accidental.
Greenspan was born in 1926 in New York. Soon, his mother divorced his father, a stockbroker, and raised her son alone. Whether it was an excellent teacher, whether nature has given Alan's phenomenal abilities, but in five years, he produced in the mind of sophisticated mathematical calculations and demonstrated exceptional musical talent. What do the numbers, or notes, to dedicate his life, Alan thought to twenty years. Sometimes he managed to find a compromise. In the mid 40's, almost simultaneously after graduating from college and music school, Greenspan became a saxophonist in a jazz band. Experts say that he played very well. But all his spare time, Alan who did the finances of the orchestra. In the end, the businessman overcame a musician - a year later Greenspan left the jazz band, to create his own consulting company.
But before it was necessary to obtain economic education. Greenspan admitted to the New York University, where in 1949 he became Grand Master, and then, at Columbia University, while studying in the doctoral. And although the degree of Doctor Greenspan assigned only in 1977, his competence in the field of economy, no one caused no doubt already in the mid-50. Especially after his consulting firm had settled on Wall Street.
For ten years, Greenspan became a millionaire, and seemed to completely forget about the old passion jazz. In fact, all this time he maintained contact with old partners in the orchestra, and in 1966 one of them presented a Greenspan Republican leader Richard Nixon. He is just preparing for the presidential elections and suggested that Greenspan, who made him a most favorable impression, to lead the department of Political Studies of the Republican Party. Thus began the political career of Alan Greenspan.
In 1974, when Nixon won the election, Greenspan led a group of economic advisers to President. Her head, he stayed and the next president, Republican Gerald Ford. When Democrat Jimmy Crater Greenspan for some time away from the political front of the stage, but triumphantly returned in 1987: Republican Ronald Reagan appointed him chairman of the Fed. About the best head of the Central Bank did not dream and a new president, Republican George W. Bush.
However, for some time now the Republicans to Greenspan cooled. The whole blame for the defeat of Bush in the 1992 presidential elections. Shortly before the voting had a "Black Monday" on the New York Stock Exchange. Throughout the night of Monday to Tuesday Greenspan sat on the phone, trying to convince the major players in the fact that the Federal Reserve enough cash to weather the storm. But just in case it has raised interest rates. For higher rates followed by recession and rising unemployment - to the great displeasure of the Bush administration and Republican voters who preferred Bush to Democrat Bill Clinton.
. But the most outrageous, in terms of Republicans, even those of the Federal Reserve, and then the ease with which Greenspan sang with a Democrat-saxophonist
. The Fed chief has frequently appeared in the Oval Office, . Clinton pointedly emphasized his complete agreement with the actions of the Fed, . and eventually to the beginning of new presidential elections, the duo has achieved record economic growth in the United States and lowest in the last 20 years, the unemployment rate.,
. The last straw that broke the patience of Republicans, was the reception at the White House, where Greenspan was seen chatting with the lovely Hillary Clinton, which every decent Republican, believes the personification of evil democratic
. And then the Republicans decided that Greenspan - a man without principles. But one thing they never doubted: unprincipled chapter applies only to Federal Reserve policy. When it comes to the economy, Greenspan - an exemplary supporter of traditional American (read: Republican) values.
. For several years, Greenspan unanimous in recognizing the best in the XX century the head of the Federal Reserve
. Of the thousands of U.S. executives surveyed by Fortune magazine in 1996, 96% expressed the hope that he continue to head the Fed. This success can not be explained merely by economic growth at a low level of unemployment and very low inflation, which is largely made possible by Greenspan's policy-banker. It is also a consequence of a well-known principled head of the Federal Reserve. He was never seen in any corruption or a deliberate distortion of facts for personal gain nor in any other misconduct, all too often perpetrated by the heads of other central banks or major financial market players.
. This strict Greenspan not only to themselves but to other
. He, for example, can not stand when her mother exchange a player pretends that he is most concerned with the benefit of the State. Once Zakerman Mort, owner of US News & World Report, on pages of their newspapers blasted the Fed for raising interest rates. Newspaper magnate, however, did not inform readers that the important part of his business - real estate, and that lowering rates and the inevitable with the acceleration of inflation it is extremely profitable.
. Greenspan was outraged: Zakerman for personal gain raised his hand to the basic principle Greenspan - to prevent inflation
. Everyone knows that for the sake of suppressing inflation, Greenspan is prepared to conduct the most rigid monetary policy, even at the expense of economic growth alone is wary. Other scares. Others openly dissatisfied. But Greenspan has developed immunity to criticism. If the Fed chairman is known that about him written something unflattering, he just does not read the article. But Greenspan keenly interested in what wrote Ayn Rand - one of his many colorful friends. Following Adam Smith and Tchernyshevskiy the lady of Russian origin, promotes rational egoism. According to Rand, the economy works better when citizens pursue primarily their own interests. And talk about selfless service which whatsoever - is nonsense. If we are to talk about the ministry, then a self-serving.
Apparently, Greenspan was a consistent advocate of this theory. The fact that the head of the Fed is obliged to annually publish information on the composition of its portfolio securities to the public no suspicion that in making investment decisions, he is using insider information. So, late last year, Greenspan has sold all his Enron shares and some money to buy short-term U.S. Treasury bonds. Naturally, when this became known, many have followed his example, adding to the stock market drop. Be that as it may, the stock price has since fallen, and state bonds - has increased, and Greenspan is not something that is not lost, but even won. Theory of Ayn Rand worked. At least in part, on personal welfare.