American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
ALAN GREENSPANThe very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
More Alan Greenspan Quotes
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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And the percentage changes in wage rates would be the same for all job grades.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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I have long argued that paying down the national debt is beneficial for the economy.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
ALAN GREENSPAN