The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
ALAN GREENSPANIf I say something which you understand fully in this regard, I probably made a mistake.
More Alan Greenspan Quotes
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The need for values is inbred. Their content is not.
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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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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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How do we know when irrational exuberance has unduly escalated asset values?
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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There is no evidence that the business cycle has been repealed.
ALAN GREENSPAN