I suspect that most people who boast of having read The Man Who Knew: The Life and Times of Alan Greenspan have not, in fact, persevered through 800 pages. (I did, but quickly…) It’s too bad, since we should probably all know a little more about the Federal Reserve Bank and how financial policy is set but a book this long and this detailed will comfort us in the thought that all this stuff is just too complicated and too tedious.
My favorite part of the book, as is often the case, was Greenspan personal history, a math prodigy raised by a single mother who was utterly devoted to him, and who saw himself at a pure libertarian and statistician — quite at odds with his later political career as a regulator!
The book focuses on his not seeing the 2008 bubble coming, which is a little too easy to say in hindsight — but certainly it was no secret that the real-estate market was bubbling. And to fill the 800 pages we get abundant details about Ayn Rand’s lovers, White House parties, how Greenspan proposed to his second wife, and of course who said what to whom at various Oval Office meetings. Where are the Cliff Notes?