Greenspan is a politician first, an economist second. Greenspan's raising interest rates unnecesarily stalled the economy and got rid of Bush I. And recently, he left the interest rates alone far too long and then only raised it in baby steps before this election, despite a fast weakening dollar and mounting inflation pressure. This was the result of a deal with Bush II who reappointed him by overlooking his grave mistakes during the inflating and then busting of the internet bubble. But Greenspan has the full backing of the media so he's been made into this iconic figure the unsuspecting mass so acquainted to. But in fact, his overly accommodating policies led to people borrowing huge amount of money at virtually no cost to buy up AMZN etc that started the internet bubble and subsequently his unnecessarily tight and abrupt policies threw the bubble into a bust. But the media will be tightlipped about his mistakes and will only play up his achievements, which granted are plenty, as it's only natural for someone who has made so many grave mistakes. But people have short memory. So don't be surprised, in ten years, with the help of the media, Greenspan will be known as the greatest economist ever, right up there with Adam Smith.