Derivatives have permitted the unbundling of financial risks.
ALAN GREENSPANThe number one problem in today’s generation and economy is the lack of financial literacy.
More Alan Greenspan Quotes
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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Amateurs want to be right. Professionals want to make money.
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I have long argued that paying down the national debt is beneficial for the economy.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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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.
ALAN GREENSPAN