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 GREENSPANI’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
More Alan Greenspan Quotes
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Political decisions are never random and will always lose out to innovative alternatives.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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There is no evidence that the business cycle has been repealed.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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I’m a better economist than I was a sax player.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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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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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
ALAN GREENSPAN