Alan greenspan biography president marcos

This year, we were fortunate to review close to 200 exceptional essay entries to our Annual Essay Competition 2024. The Third Place winner is Rohan Guntur from Reading School:

“Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not.” (Allan Greenspan). Discuss.

The anatomy of the nature of man has been dissected by philosophers dating as far back as Socrates of ancient Greece (Hedges, 2021), into the present day where the idea of human nature is now looked at through a biological lens as humanity seeks to understand the inner ‘components’ of the mind. Alan Greenspan’s theory is one of particular intrigue, as he reasons that corruption and similar elements are inherently present within human nature, hence it is omnipresent in all human interaction. Pertaining to this, technology is becoming increasingly sophisticated in the modern day, allowing for more intricate and lucrative methods of embezzlement and fraud. In 2023 alone, a recorded $3.1 trillion USD of illicit funds were reportedly flowing through banks globally (AML Intelligence Correspondents, 2024). Therefore now more than ever before, humanity faces a burgeoning urgency to investigate theories such as Greenspan’s in order to expand our understanding of human nature and in doing so, we may be able to reliably predict and prevent sources of deceit in the future.

To understand the nature of fraud, it is crucial to understand its origins. One of the most pioneering theories behind the conception of deceitfulness within an individual or group is the Fraud Triangle, developed by Dr Donald Cressey. Cressey brings forward the notion that there are simply three elements that define whether an individual is likely to undertake falsehood, these being: Existing financial pressure, an opportunity to rid themselves of their hardship

Just when you think George W. Bush and congressional Republicans couldn’t take another blow to their battered reputation, along comes Alan Greenspan to prove you wrong.

Greenspan, Federal Reserve Board chairman for 18 years until he quit in 2006, delivers a devastating critique of Bush in a new memoir, painting the president as an un-informed and incurious leader and an economic dunce whose tolerance for runaway spending squandered a huge budget surplus and saddled the country with a vast annual deficit. (Now he tells us.)

There’s a hero in Greenspan’s book, but alas for the GOP, it’s former President Bill Clinton, the epitome of evil in Republican lore.

Contrasting him starkly and favorably with Bush, Greenspan depicts Clinton as a man of limitless curiosity about everything and a veritable sponge, soaking up information like a star student, someone Greenspan could identify with.

“Here was a fellow information hound,” Greenspan writes. “We both read books and were curious and thoughtful about the world. … I never ceased to be surprised by his fascination with economic detail.” Clinton and Richard Nixon were the smartest presidents he served, Greenspan says.

Clinton was in office only a few weeks in 1993 when Greenspan informed him the federal deficit was out of control and, unless reduced, could produce “a financial crisis.” The red ink mess may have been created during the previous 12 years of Republican rule in the White House, but it was Clinton’s mess to clean up. And Greenspan lauds how he faced up to it.

“The hard truth was that (former President Ronald) Reagan had borrowed … and Clinton was having to pay it back,” the former Fed boss writes. “I was impressed that he did not seem to be trying to fudge reality to the extent politicians ordinarily do. He was forcing himself to live in the real world.” In the Bush White House, in contrast, Greens

William L. Silber is the former Marcus Nadler Professor of Finance and Economics (2002-2019) at NYU’s Stern School of Business, and before that was the Dean Abraham Gitlow Professor of Economics and Finance (1990-2002) at Stern. He was also the Director of the Glucksman Institute for Research in Securities Markets at NYU Stern between 1985 and 2018. In the business world he has been a member of the New York Mercantile Exchange where he traded options and futures contracts, has managed an investment portfolio for Odyssey Partners, and has also been a Senior Vice President, Trading Strategy, at Lehman Brothers. In government service, he has been a Senior Economist with the President's Council of Economic Advisors and was a member of the Economic Advisory Board of the Federal Reserve Bank of New York. He holds an M.A. and Ph.D. from Princeton University and is a graduate of Yeshiva College.

He has consulted for various government agencies, including the Federal Reserve Board, the U.S. Senate Committee on the Budget, the House Committee on Banking and Financial Services, and the President's Commission on Financial Structure and Regulation. He has testified in Congress and has been an expert witness in a number of court cases. In 1980 he received the Excellence in Teaching Award at NYU's Stern School of Business and was voted Professor of the Year by MBA students in 1990, 1997, and 2018. In 1999 he was awarded NYU's Distinguished Teaching Medal.

His newest book, The Power of Nothing to Lose: The Hail Mary Effect in Politics, War, and Business, shows how presidents, generals, dictators, and ordinary people have used the power of downside protection to alter history. A simple strategy, similar to the Hail Mary pass in football, encourages risky ventures that favor the ‘deciders’ but hurts innocent bystanders, causing collateral damage that requires attention. His previous book, The Story of Silver: How the White Metal Shaped America and the Modern