ALAN GREENSPAN Biography - Bussiness people and enterpreneurs


Biography » bussiness people and enterpreneurs » 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         
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     
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.