I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
ALAN GREENSPAN
By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
More Alan Greenspan Quotes
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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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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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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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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Excessive optimism sows the seeds of its own reversal.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
ALAN GREENSPAN