Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
ALAN GREENSPANWe cannot rule out a situation in which a preemptive policy tightening becomes necessary.
More Alan Greenspan Quotes
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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The tub helps me relax, and it’s a great place to read.
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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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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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If I say something which you understand fully in this regard, I probably made a mistake.
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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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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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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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The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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.
ALAN GREENSPAN