Alan shrugged : the life and times of Alan Greenspan, the world's most powerful banker

I am an avid reader of the works of Ayn Rand. I picked up this book from a used book store thinking that it would be a nice book to give an overview of the career of Alan Greenspan with special emphasis on his relationship with Ayn Rand. Unfortunately, I was bored by the content on Alan Greenspan and offended by the content on Ayn Rand. The initial chapters on Greenspan's youth and his hobby as a jazz player are interesting. However, the latter sections on Greenspan as a financial adviser (for Ford and Reagan) and his time with the Federal Reserve are somewhat informative but boring to read. Chairing the Federal Reserve is not exactly the most exciting position, so perhaps the author is just doing the best with the material he has. This is true but the treatment of Ayn Rand is very unkind if not just downright immature. For example, Tuccille writes "[M]uch of Rand's rational individualism was in harmony with the teachings of the scholastic Thomas Aquinas....But Rand \*chose\* to believe that she had created a new morality that stood Christianity on its head." The emphasis on the word 'chose' is mine. Reading this paragraph insinuates that not only is Rand's ethical philosophy a mere rehash of previous ideas but that she deliberately and dishonestly \*evaded\* this fact. While both Rand and Aquinas have Aristotelian roots, this is still not an honest comment to make in passing about Rand's philosophy. It is not appropriate for me to go into details about the details between Rand and Aquinas here, but any interested reader can learn about Rand's ethical philosophy by reading 'The Virtue of Selfishness' by Ayn Rand, 'Objectivism: The Philosophy of Ayn Rand' by Leonard Peikoff or 'Ayn Rand's Normative Ethics' by Tara Smith. There are numerous other snipes at Ayn Rand throughout the book, but the comment above is very representative. I definitely do not recommend this book for genuine fans of Objectivism. I also do not recommend this book for general fans of laissez-faire capitalism as I do not see much value in this book for this broader audience either. How did a shy, gawky musical protege grow up to become the Delphic oracle of U.S. monetary policy and the most powerful banker in the world? In Alan Shrugged, best-selling biographer Jerome Tuccille examines the life of Alan Greenspan, identifies the defining incidents that shaped his career, and explores the major influences on his political and economic thinking.The author draws on extensive interviews with Greenspan's closest friends and professional associates to reveal the surprisingly colorful, complex man behind the dour personage who often speaks in a language that few people understand. Tuccille creates a vivid portrait of an intense young man torn between his love of music and his fascination with math and economics. He recounts Greenspan's days as a professional jazz musician and his painful realization that, as much as he loved music, he was born to be an economist.Bursting with new information on Greenspan's close but often contentious relationship with Ayn Rand, who dubbed him "the undertaker" because of his somber appearance, Alan Shrugged explains why Greenspan was so drawn to Rand's moral defense of capitalism and why Rand was so eager to count him among her disciples.This comprehensive account examines Greenspan's stunning success as a Wall Street financial consultant and tracks his political rise from his decision to join Richard Nixon's 1968 presidential campaign, through the Ford and Reagan administrations, to his appointment as Federal Reserve Chairman in 1987. Refreshingly accessible discussions of what money is and how it is accumulated demystify Fed policy and enable an informative, entertaining, and intelligible review of Greenspan's achievements and shortcomings as Fed Chairman.Peppered with insightful anecdotes from such luminaries as Henry Kissinger, Barbara Walters, Milton Friedman, Robert Rubin, former President George Bush, and many more, Alan Shrugged reveals Greenspan's sharp sense of humor, personal idiosyncrasies, and awesome intellectual power. It also uncovers an unexpected current of comedy and pathos running beneath the surface of Greenspan's life in stark contrast with his staid demeanor. Surprising, intriguing, and utterly engrossing, Alan Shrugged is must reading for anyone interested in the economy, politics, or the life of the man considered by many to be one of the most powerful people on the planet. CONTENTS......Page 10 ACKNOWLEDGMENTS......Page 12 PREFACE......Page 16 PART ONE All That Jazz......Page 20 CHAPTER 1......Page 22 CHAPTER 2......Page 32 CHAPTER 3......Page 40 CHAPTER 4......Page 47 CHAPTER 5......Page 56 PART TWO The Randian......Page 64 CHAPTER 6......Page 66 CHAPTER 7......Page 74 CHAPTER 8......Page 82 CHAPTER 9......Page 89 CHAPTER 10......Page 96 CHAPTER 11......Page 103 PART THREE The Adviser......Page 108 CHAPTER 12......Page 110 CHAPTER 13......Page 117 CHAPTER 14......Page 124 CHAPTER 15......Page 131 CHAPTER 16......Page 141 CHAPTER 17......Page 147 CHAPTER 18......Page 155 CHAPTER 19......Page 168 CHAPTER 20......Page 174 PART FOUR The Chairman......Page 178 CHAPTER 21......Page 180 CHAPTER 22......Page 187 CHAPTER 23......Page 195 CHAPTER 24......Page 203 CHAPTER 25......Page 210 CHAPTER 26......Page 216 CHAPTER 27......Page 224 PART FIVE The Boom......Page 232 CHAPTER 28......Page 234 CHAPTER 29......Page 240 CHAPTER 30......Page 247 CHAPTER 31......Page 254 CHAPTER 32......Page 261 CHAPTER 33......Page 268 CHAPTER 34......Page 275 EPILOGUE......Page 285 Part One: All That Jazz......Page 288 Part Two: The Randian......Page 290 Part Three: The Adviser......Page 292 Part Four: The Chairman......Page 296 Part Five: The Boom......Page 299 INDEX......Page 304

Power . . . Personality . . . Paradox

When Alan Greenspan talks, Wall Street listens–as do bankers, investors, politicians, and economists throughout the world. He is the number one arbiter of U.S. monetary policy–credited, as Chairman of the Federal Reserve, with having simultaneously held inflation down and kept the economy growing throughout the longest and largest economic expansion in U.S. history.

Yet, this Atlas of number crunchers, who owned and operated a highly successful Wall Street consulting firm, never amassed a personal fortune, was a member of the cultlike inner circle surrounding one of America’s most controversial authors, and began his career as a professional jazz musician. Clearly, there is even more to Alan Greenspan than meets the eye.

In Alan Shrugged, you’ll meet Greenspan the public figure and Alan the private man in the most detailed, revealing, and entertaining account of Greenspan’s life and career ever published. Filled with surprises, amusing anecdotes from the likes of Henry Kissinger and Barbara Walters, and thoughtful insights from bestselling biographer Jerome Tuccille, Alan Shrugged offers an informative and engaging portrait of one of the most powerful, capable, and complex figures on the American political scene.

Power . . . Personality . . . Paradox When Alan Greenspan talks, Wall Street listens-as do bankers, investors, politicians, and economists throughout the world. He is the number one arbiter of U.S. monetary policy-credited, as Chairman of the Federal Reserve, with having simultaneously held inflation down and kept the economy growing throughout the longest and largest economic expansion in U.S. history. Yet, this Atlas of number crunchers, who owned and operated a highly successful Wall Street consulting firm, never amassed a personal fortune, was a member of the cultlike inner circle surrounding one of America's most controversial authors, and began his career as a professional jazz musician. Clearly, there is even more to Alan Greenspan than meets the eye. In Alan Shrugged, you'll meet Greenspan the public figure and Alan the private man in the most detailed, revealing, and entertaining account of Greenspan's life and career ever published. Filled with surprises, amusing anecdotes from the likes of Henry Kissinger and Barbara Walters, and thoughtful insights from bestselling biographer Jerome Tuccille, Alan Shrugged offers an informative and engaging portrait of one of the most powerful, capable, and complex figures on the American political scene. "How did a shy, gawky musical protege grow up to become the Delphic oracle of U.S. monetary policy and the most powerful banker in the world? In Alan Shrugged, bestselling biographer Jerome Tuccille examines the life of Alan Greenspan, identifies the defining incidents that shaped his career, and explores the major influences on his political and economic thinking.". "The author draws on extensive interviews with Greenspan's closest friends and professional associates to reveal the surprisingly colorful, complex man behind the dour personage who often speaks in a language that few people understand. Tuccille creates a vivid portrait of an intense young man torn between his love of music and his fascination with math and economics. He recounts Greenspan's days as a professional jazz musician and his painful realization that, as much as he loved music, he was born to be an economist."--BOOK JACKET. Power ... Personality ... Paradox When Alan Greenspan talks, Wall Street listens - as do bankers, investors, politicians, and economists throughout the world. He is the number one arbiter of U.S. monetary policy - credited, as Chairman of the Federal Reserve, with having simultaneously held inflation down and kept the economy growing throughout the longest and largest economic expansion in U.S. history "You know how it was in the early days, before the population explosion and urbanization covered the natural beauty of Manhattan with a hard shell of concrete and brick."