Map of Formerie on economy and stock market. In the last months of the 1990s economic boom, Senator Phil Gramm (himself a former economics professor) hailed Greenspan as the greatest central banker in the history of the world. Two laudatory books told his story. However, after the recession of 2001 began and the stock market began to slide, Greenspan was criticized for his apparent failure to recognize and stop the economic bubble that had artificially inflated the late- 1990s U.S. economy to unsustainable levels. Indeed, Greenspan had in 1996 warned against the irrational exuberance of the U. Map of Formerie 2016.
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