Former Federal Reserve Chairman Alan Greenspan is generally considered to be one smart cookie.

After all, he was appointed Fed Chairman in 1987 by President Ronald Reagan. When President George H.W. Bush took office, he kept Greenspan at the Fed helm.

When the Democrats took control of the White House, President Bill Clinton surprised more than a few observers when he declined to name a new Fed chairman and asked Greenspan to remain in office.

Greenspan’s expertise was so valued that Clinton’s successor, President George W. Bush kept him on until Greenspan ...

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