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Greenspan is a typically Ashkenazi Jewish surname. It is the anglicized form of the German/Yiddish surname Grünspan. Cognate are the surnames Grynszpan and Grinshpan.
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In monetary policy of the United States, the term Fedspeak is what Alan Blinder called "a turgid dialect of English" used by Federal Reserve Board chairmen in making wordy, vague, and ambiguous statements. The strategy, which was used most prominently by Alan Greenspan, was used to prevent financial markets from overreacting to the chairman's remarks. The coinage is an intentional parallel to Newspeak of Nineteen Eighty-Four, a novel by George Orwell.
The Great Recession in the United States was a severe financial crisis combined with a deep recession. While the recession officially lasted from December 2007 to June 2009, it took many years for the economy to recover to pre-crisis levels of employment and output. This slow recovery was due in part to households and financial institutions paying off debts accumulated in the years preceding the crisis along with restrained government spending following initial stimulus efforts. It followed the bursting of the housing bubble, the housing market correction and subprime mortgage crisis.
A limited form of the Social Security program began as a measure to implement "social insurance" during the Great Depression of the 1930s, when poverty rates among senior citizens exceeded 50 percent.
There have been several efforts or appeals in the United States to reinstate repealed sections of the Glass–Steagall Act following the financial crisis of 2007-08, as well as elsewhere to adopt similar financial reforms.
References
- ↑ "Social Security History".
- ↑ "Social Security Reform Act of 1983 (1983 - H.R. 924)".
- ↑ "Alan Greenspan and the Meaning of "Trust"". www.tcf.org. Archived from the original on 8 October 2006. Retrieved 13 January 2022.
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