The most revolting thing about Greenspan, is that he understood precisely what he was. He wrote the economic commentary for Ayn Rand, in the Objectivist Newletter in the early 1960s He wrote with great accuracy in 1966 how government is hostile to gold, and how governments confiscate your wealth through inflation His & Rand's philosophy was that society had no business coercing the individual's choices in life But G-d help anyone who wasnt in lock step with Greenspan's policies, once he became Fed Chairman he destroyed them - he cracked the back of the market in 2000, then turned his rifle onto anyone with fixed incomes, destroying them with real rates of return below inflation - you had to be in the asset class he favored - or else. and again, in the 1960s, nobody could have written a more articulate description of the immorallity of it that Greenspan himself
I think he simply sold out & gave up. There were others pulling his strings. He was the authoritative figurehead. The Fed chairman does not own the Federal Reserve, I'm not even sure if they are allowed to own any of the shares. The major shareholders are the one who really decide what goes on. My guess, he was a briliant guy who figured it out how the financial game of the central bank works early on in his life. But he played along and eventually crossed over to the DARK SIDE.