Alan Greenspan was the longest running Federal Reserve chief in history, eighteen years. Why so long? Because his policies of deregulating everything fit perfectly with the market fundamentalist Neoliberal economic policy of the Reagan and Clinton years.
He also presided over the dot-com bubble as well as the housing bubble. He famously admitted that he had no explanation for the 2008 recession. Why did such a guy come to power in the first place? Michael Hudson and Radhika Desai discuss answers to this question.
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