How Alan Greenspan built and unleashed the massive, modern Federal Reserve

When Dr. Alan Greenspan, who passed away at 100, took the Fed chairmanship in July 1987, the Fed already held massive power under Paul Volcker. That was memorialized in the "Secrets of the Temple" released in 1987. 

Greenspan would add many layers to the Fed’s power during his five four-year terms, even though he was intellectually opposed to big government. He tightened the grip of the Chairman, participated actively in the Swiss-based Bank for International Settlements, and approved the...