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Maestro: Greenspans Fed And The American Boom Hardcover – November 14, 2000
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In eight Tuesdays each year, Federal Reserve chairman Alan Greenspan convenes a small committee to set the short-term interest rate that can move through the American and world economies like an electric jolt. As much as any, the committee's actions determine the economic well-being of every American. The availability of money for business or consumer loans, mortgages, job creation and overall national economic growth flows from those decisions. Perhaps the last Washington secret is how the Federal Reserve and its enigmatic chairman, Alan Greenspan, operate. In Maestro, Bob Woodward takes you inside the Fed and Greenspan's thinking. We listen to the Fed's internal debates as the American economy is pushed into a historic 10-year expansion while the world economy lurches from financial crisis to financial crisis. Greenspan plays a sometimes subtle, sometimes blunt behind-the-scenes role. He appears in Maestro up close as never before -- alternately nervous and calm, plunging into mathematics one moment and politics the next, skeptical, dispassionate, always struggling -- often alone.
Maestro traces a fascinating intellectual journey as Greenspan, an old-school anti-inflation hawk of the traditional economy, is among the first to realize the potential in the modern, high-productivity new economy -- the foundation of the current American boom. Woodward's account of the Greenspan years is a remarkable portrait of a man who has become the symbol of American economic preeminence.
- Print length272 pages
- LanguageEnglish
- PublisherSimon & Schuster
- Publication dateNovember 14, 2000
- Dimensions6.5 x 1 x 9.75 inches
- ISBN-100743204123
- ISBN-13978-0743204125
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The Man Who Knew: The Life and Times of Alan GreenspanHardcover
Editorial Reviews
Amazon.com Review
More profoundly, Greenspan is a maestro, a conductor, exquisitely attuned to every instrument in the political and economic orchestra. He rules by consensus, but with a firm hand and notoriously inscrutable words. Marvelously, Woodward relates that Greenspan had to propose twice to his wife, the violinist-turned-TV news star Andrea Mitchell, before she understood: "His verbal obscurity and caution were so ingrained that Mitchell didn't even know that he had asked her to marry him." Woodward gives us the inside story of what Greenspan really thinks and how he outmaneuvered the most ruthless politicians on earth in some of the hairiest times imaginable, from the 1987 stock market crash to the 1994-95 Mexican crisis to the stomach-churning turn of the century. It turns out that for all his awesome knowledge of monetary minutiae, the Fed chief literally relies on "a pain in the pit of my stomach" to make decisions. "At times, he found his body sensed danger before his head," writes Woodward. The Fed chief also adapts Einstein's technique to economics, hunting for discrepancies as keys to deeper theories. Einstein made breakthroughs out of bent light; Greenspan deduced productivity gains that government statisticians had overlooked for years. (The gains appeared when Greenspan made the statisticians calculate productivity by business sector, the way it's done in the real world.)
Woodward's prose is cool and rational, not exuberant. But if you're into economics and politics, you'll find a rich gossip trove here. Who knew Reagan had a draft of a presidential order to shut down Wall Street trading at hand in 1987? Scary! Reading Maestro is better than sitting with Greenspan in his famous tub as he charts your future--it's like being right there inside his head. --Tim Appelo
Review
"Woodward has established himself as the best reporter of our time. He may be the best reporter of all time."
-- Bob Schieffer, CBS News Face the Nation
<br /><br />"Scrupulous and illuminating...Woodward lucidly explains the axes of intellectual and political disagreement over monetary policy...shedding new light on major conflicts of the Greenspan era."
-- The New York Times Book Review
<br /><br />"A gripping ride through the oddly fragile and insecure world of big money and the curious mind of Greenspan."
-- San Francisco Chronicle
<br /><br />"Fascinating, intimate...the best inside job on the subject yet to appear."
-- The Dallas Morning News
<br /><br />"Admirably accomplishes what it sets out to do: demystify a Washington institution that is dimly understood by most Americans."
-- USA Today
<br /><br />"Replete with the sort of fly-on-the-wall reporting for which Woodward is famous. What comes across most clearly is Greenspan's skill at the political power games that determine who survives in the cutthroat world of Washington."
--BusinessWeek
About the Author
Product details
- Publisher : Simon & Schuster; First Edition (November 14, 2000)
- Language : English
- Hardcover : 272 pages
- ISBN-10 : 0743204123
- ISBN-13 : 978-0743204125
- Item Weight : 1.25 pounds
- Dimensions : 6.5 x 1 x 9.75 inches
- Best Sellers Rank: #1,263,482 in Books (See Top 100 in Books)
- #1,182 in Economic Policy & Development (Books)
- #3,357 in Business Professional's Biographies
- #6,034 in Political Leader Biographies
- Customer Reviews:
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About the author

Bob Woodward is an associate editor of The Washington Post, where he has worked since 1971. He has shared in two Pulitzer Prizes, first in 1973 for the coverage of the Watergate scandal with Carl Bernstein, and second in 2003 as the lead reporter for coverage of the 9/11 terrorist attacks.
He has authored or coauthored 18 books, all of which have been national non-fiction bestsellers. Twelve of those have been #1 national bestsellers. He has written books on eight of the most recent presidents, from Nixon to Obama.
Bob Schieffer of CBS News has said, “Woodward has established himself as the best reporter of our time. He may be the best reporter of all time.”
In 2014, Robert Gates, former director of the CIA and Secretary of Defense, said that he wished he’d recruited Woodward into the CIA, saying of Woodward, “He has an extraordinary ability to get otherwise responsible adults to spill [their] guts to him...his ability to get people to talk about stuff they shouldn’t be talking about is just extraordinary and may be unique.”
Gene Roberts, the former managing editor of The New York Times, has called the Woodward-Bernstein Watergate coverage, “maybe the single greatest reporting effort of all time.” In listing the all-time 100 best non-fiction books, Time Magazine has called All the President’s Men, by Bernstein and Woodward, “Perhaps the most influential piece of journalism in history.”
In 2018 David Von Drehle wrote, “What [Theodore] White did for presidential campaigns, Post Associate Editor Bob Woodward has done for multiple West Wing administrations – in addition to the Supreme Court, the Pentagon, the CIA and the Federal Reserve.”
Woodward was born March 26, 1943 in Illinois. He graduated from Yale University in 1965 and served five years as a communications officer in the United States Navy before beginning his journalism career at the Montgomery County (Maryland) Sentinel, where he was a reporter for one year before joining the Post.
Photos, a Q&A, and additional materials are available at Woodward's website, www.bobwoodward.com.
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Woodward's strength is his ability to get the inside gossip from his myriad of unnamed sources. They sometimes dish the dirt on each other which makes it an amusing read at times and one wonders the effect it has on them when they read about themselves in his books. I am sure there are some strained relationships as a result.
In this book, Woodward looks at Alan Greenspan and his work up until 2001. There is a fair amount of economic discussion in the book but nothing in the depth to make non-economists eyes glaze over. Greenspan appears to be an enigmatic figure who was quite knowledgeable in how to play politics and the press.
Overall, I think this was a very good book and as always with Bob Woodward, worth your time to read.
I was extremely pleased with this fantastic read!! However, I recommend not reading it on Kindle if you would be interested in the photos in the printed version!
However, I found the method of writing to be monotonous. Although so many events occurred during Greenspan's tenure, the author has managed to make them all appear to be the same. His writing was not clear, and it seemed to be the same thing over and over again.
Although the writing was weak, the topic is so unique and interesting that I still was able to enjoy the information, hence three stars.










