Alan Greenspan, Hero or Villain To properly discuss Alan Greenspan, we need background information, where he worked and what exactly he did/does.Alan Greenspan (born 6 March 1926) is an American economist and served as Chairman of the Board of Governors of the United States Federal Reserve from 1987 to 2006. Greenspan was appointed Chairman of the Federal Reserve (FED) by President Ronald Reagan in 1987 and was reappointed at subsequent intervals of four years until he retired in January 2006. Many people agree that Greenspan was an excellent economist, I agree, however, I believe that he began to believe his own "press" and as a result his actions put Americans in the deficit we currently find ourselves in. I will explain further that Greenspan's agenda is what drove him, not the best interest of the United States of America. this article intends to expose Greenspan not as a people's hero, but as an eccentric businessman, who ultimately cared only about himself and big business. Let's first start by defining what the “FED” is. The Federal Reserve was created by the United States Congress in 1913. The Fed is led by a government agency in Washington known as the Board of Governors of the Federal Reserve. The Board of Governors is made up of seven presidential appointees, each of whom serves a 14-year term. All members must be confirmed by the Senate and may be re-elected. The council is led by a president and vice president, each appointed by the president and approved by the Senate for a four-year term. There are 12 regional Federal Reserve Banks located in major cities across the country that operate under the supervision of the Board of Governors. Reserve banks act as the operating arm of the central bank and carry out most of the Fed's work. Banks generate their income from four main sources:1. Services provided to banks2. Interest accrued on government bonds purchased as part of the Federal Reserve's activities3. Income from foreign currency held4. Interest on loans to depository institutions. The income raised from these activities is used to fund daily operations, including intelligence gathering and economic research. The Fed also includes the Federal Open Market Committee, FMOC. This is the policy arm of the Federal Reserve. Traditionally, the prime minister is also chosen as president of the FMOC.