The article critically examines Alan Greenspan's legacy as US Federal Reserve Chair, highlighting the perils of his "markets-know-best" philosophy. Despite presiding over an era of sustained growth, his reluctance to intervene in burgeoning asset bubbles, particularly the subprime mortgage market, is deemed a significant factor in the 2008 financial crisis. The "Greenspan put" ultimately proved disastrous, leading to a "Great Recession." The author argues that central bankers should learn from this, advocating for a "trust but verify" approach to markets and emphasizing clear communication. The piece underscores the dangers of unchecked deregulation and places blame on Greenspan's policies for stripping away safeguards.