Former Federal Reserve chairman Alan Greenspan | 60 Minutes Archive

Summary

Alan Greenspan's memoir, *The Age of Turbulence*, defends his tenure as Federal Reserve Chairman against criticism for his perceived role in the housing crisis. Greenspan acknowledges awareness of subprime lending practices but claims he didn't grasp their significance until late, and resisted regulatory intervention as ineffective. The takeaway is the challenge of anticipating and preventing complex financial downturns even for those in positions of immense influence.