The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
ALAN GREENSPANUnfortunately, Senator, nobody knows where the next innovative idea is coming from.
More Alan Greenspan Quotes
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Amateurs want to be right. Professionals want to make money.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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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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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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Rules cannot take the place of character.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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If you think you understand what I am saying you do not understand what I am saying.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
ALAN GREENSPAN