Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPANThe number of mistakes I have made are just awesome. There is no number large enough to account for that.
More Alan Greenspan Quotes
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The process of innovation is, of course, never ending.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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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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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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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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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Revolutions are something you see only in retrospect.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
ALAN GREENSPAN