Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
ALAN GREENSPANThe guiding purpose of the government regulator is to prevent rather than to create something.
More Alan Greenspan Quotes
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Rules cannot take the place of character.
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All taxes are a drag on economic growth. It’s only a question of degree.
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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.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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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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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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’m a better economist than I was a sax player.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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The process of innovation is, of course, never ending.
ALAN GREENSPAN