American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
ALAN GREENSPANIndeed, better risk management may be the only truly necessary element of success in banking.
More Alan Greenspan Quotes
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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How do we know when irrational exuberance has unduly escalated asset values?
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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Whatever you tax you get less of.
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I’m a better economist than I was a sax player.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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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.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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What an ideology is is a conceptual framework with the way people deal with reality.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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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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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
ALAN GREENSPAN






