Alan Greenspan’s reputation as head of the US Federal Reserve was legendary — not least because of his reputation for convoluted statements. However, the financial crisis took a toll on his standing.

A market maestro to some, he was criticized by others—including himself—for having too much faith in self-regulating markets.

Financial historian James Grant had a withering look at Alan Greenspan’s epic run at the Fed just before he stepped down in 2006—and a few short years before the Great Recession.