WASHINGTON – DECEMBER 17: Former Federal Reserve Chairman Alan Greenspan testifies during a Senate Homeland Security and Governmental Affairs Committee hearing on Capitol Hill on December 17, 2009 in Washington, DC. The committee is hearing testimony on why Congress should establish a bipartisan task force to help safeguard America�s economic future and proposals to secure It. (Photo by Mark Wilson/Getty Images)
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Alan Greenspan didn’t just steer the economy through crises. He rewired how investors interpret risk. His repeated willingness to supply liquidity during moments of stress created an expectation that still shapes markets today: when conditions become dangerous enough, the Federal Reserve will step in. That…
