Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
ALAN GREENSPANWe need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
More Alan Greenspan Quotes
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The process of innovation is, of course, never ending.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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Credit-default swaps, I think, have serious problems associated with them.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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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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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.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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If I say something which you understand fully in this regard, I probably made a mistake.
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What an ideology is is a conceptual framework with the way people deal with reality.
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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
ALAN GREENSPAN