ALAN GREENSPAN
Alan Greenspan was born in 1926, in New York City and raised by his mother
and grandmother. From an early age he pursued his interest in music and
after completing high school, he went on to study at the Juilliard School
of dance, drama and music. Alan soon dropped out and began travelling with
Henry Jerome and His Orchestra, and performed as a tenor, saxophone and
clarinet player for about a year. After His time in the band Alan went on
to study at New York University’s school of commerce in 1944 and graduated
with a Bachelor of Science degree with which he followed up with a Master
of Arts degree in 1950.
That same year Greenspan began graduate studies at Columbia University but
accepted a job for the National Industrial Conference Board which
subsequently caused him to drop out of Columbia.
In 1951 Alan Greenspan meet artist Joan Mitchell and began dating her, a
year later they were married but it wasn’t to be and they obtained an
annulment 10 months later. During their time together Joan introduced Alan
to novelist Ayn Rand a writer and social philosopher. Alan was greatly
influenced by her philosophy of “Objectivism”. He authored articles for
Objectivist newsletters, and contributed several essays for Rand's 1966
book Capitalism: the Unknown Ideal, they remained friends until her death
in 1982.
In 1954 Greenspan partnered bond trader William Townsend to form
Townsend-Greenspan and company, an economic consulting firm which he stood
as Chairman and president from 1954 to 1974. Alan entered politics in
1967, when he served as director of domestic policy research for Richard
Nixon, he turned down a permanent position in the Nixon administration,
but continued to advise him informally while continuing his work at
Townsend-Greenspan and company. From 1974 to 1977 he served as Chairman of
the President's Council of Economic Advisers and then returned to
Townsend-Greenspan and company in 1977. In 1977 he also completed a Ph.D.
from New York University.
From 1981 to 1983, he served as chairman of the National Commission on
Social Security Reform, working to save the social security system from
bankruptcy. When the chairman of the Federal Reserve Board retired in June
1987, Alan was nominated as his replacement, and accepted the position.
After failing to find a buyer Townsend-Greenspan and company was closed.
Alan Greenspan was chairman of the Federal Reserve Board for 5 straight
terms and is not eligible for renomination to a sixth term in that
position.
Before Alan’s appointment to the reserve board, he held an impressive list
of positions including corporate director for Aluminium Company of
America, Capital Cities/ABC, General Foods, J.P. Morgan & Co, Morgan
Guaranty Trust Company of New York, Mobil Corporation; and The Pittston
Company. His noncorporate positions included Member of the Board of
Trustees for the Rand Corporation, Director of the Institute for
International Economics, Member of the Board of Overseers, Hoover
Institution and Vice Chairman and Trustee for the Economic Club of New
York.
Alan Greenspan married Andrea Mitchell, NBC’s chief foreign affairs
correspondent, in 1997, after a 12-year relationship. They live in the
Palisades, Washington. Alan is famous for doing a good deal of his most
important work in the mornings, while soaking in the bath.
Alan Greenspan was born in 1926, in New York City and raised by his mother
and grandmother. From an early age he pursued his interest in music and
after completing high school, he went on to study at the Juilliard School
of dance, drama and music. Alan soon dropped out and began travelling with
Henry Jerome and His Orchestra, and performed as a tenor, saxophone and
clarinet player for about a year. After His time in the band Alan went on
to study at New York University’s school of commerce in 1944 and graduated
with a Bachelor of Science degree with which he followed up with a Master
of Arts degree in 1950.
That same year Greenspan began graduate studies at Columbia University but
accepted a job for the National Industrial Conference Board which
subsequently caused him to drop out of Columbia.
In 1951 Alan Greenspan meet artist Joan Mitchell and began dating her, a
year later they were married but it wasn’t to be and they obtained an
annulment 10 months later. During their time together Joan introduced Alan
to novelist Ayn Rand a writer and social philosopher. Alan was greatly
influenced by her philosophy of “Objectivism”. He authored articles for
Objectivist newsletters, and contributed several essays for Rand's 1966
book Capitalism: the Unknown Ideal, they remained friends until her death
in 1982.
In 1954 Greenspan partnered bond trader William Townsend to form
Townsend-Greenspan and company, an economic consulting firm which he stood
as Chairman and president from 1954 to 1974. Alan entered politics in
1967, when he served as director of domestic policy research for Richard
Nixon, he turned down a permanent position in the Nixon administration,
but continued to advise him informally while continuing his work at
Townsend-Greenspan and company. From 1974 to 1977 he served as Chairman of
the President's Council of Economic Advisers and then returned to
Townsend-Greenspan and company in 1977. In 1977 he also completed a Ph.D.
from New York University.
From 1981 to 1983, he served as chairman of the National Commission on
Social Security Reform, working to save the social security system from
bankruptcy. When the chairman of the Federal Reserve Board retired in June
1987, Alan was nominated as his replacement, and accepted the position.
After failing to find a buyer Townsend-Greenspan and company was closed.
Alan Greenspan was chairman of the Federal Reserve Board for 5 straight
terms and is not eligible for renomination to a sixth term in that
position.
Before Alan’s appointment to the reserve board, he held an impressive list
of positions including corporate director for Aluminium Company of
America, Capital Cities/ABC, General Foods, J.P. Morgan & Co, Morgan
Guaranty Trust Company of New York, Mobil Corporation; and The Pittston
Company. His noncorporate positions included Member of the Board of
Trustees for the Rand Corporation, Director of the Institute for
International Economics, Member of the Board of Overseers, Hoover
Institution and Vice Chairman and Trustee for the Economic Club of New
York.
Alan Greenspan married Andrea Mitchell, NBC’s chief foreign affairs
correspondent, in 1997, after a 12-year relationship. They live in the
Palisades, Washington. Alan is famous for doing a good deal of his most
important work in the mornings, while soaking in the bath.