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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.

Related Topics

Belief Context Dramatical General Growth Institution Market Occur Risk Structure

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
ALAN GREENSPAN

Coin Consecutive Head Investor Million Percent Pick Probably Stock Ten Tosser
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.
ALAN GREENSPAN

Asset Banker Bubble Central Collapse Concern Do Economy Financial Threaten
I’m a plain soap kind of guy.
ALAN GREENSPAN

Guy Kind Plain Soap
We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
ALAN GREENSPAN

Border Labour Open Ought Part Skill State Word World
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.
ALAN GREENSPAN

Central Cloud Country Number Outlook Projection Tendency Uncertain
Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
ALAN GREENSPAN

Amount Available Cash Necessary Problem Should Solve Stress
If prices go down, we will have problems – problems in the sense of spillover to other areas.
ALAN GREENSPAN

Area Other Price Problem Spillover
No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
ALAN GREENSPAN

Abnormal Exposure Haul Long Matter No Return Scheme Skillful Sustain Trade
Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPAN

Derivate Negotiate Privately Profession Regulation Transaction
And the percentage changes in wage rates would be the same for all job grades.
ALAN GREENSPAN

All Change Job Percentage Rate Right Same Wage
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.
ALAN GREENSPAN

Competitively Immigration Income Level Process Profession Quota Support
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.
ALAN GREENSPAN

Against Always Any Believe Fraud Law Need Probably
I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
ALAN GREENSPAN

Always Amaze Day Different Foreign Handle Next Policy Politics Subject Wife
Excessive optimism sows the seeds of its own reversal.
ALAN GREENSPAN

Excessive Optimism Retrospect Something
If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPAN

Deal Effect Measure Psychology Thermometer Use
I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
ALAN GREENSPAN

Appear Corner Cut Deny Manipulate Material Succeeded

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