The tub helps me relax, and it’s a great place to read.
ALAN GREENSPANI’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
More Alan Greenspan Quotes
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As long as we issue fiat currency, I see no alternative to a legal tender law.
ALAN GREENSPAN -
[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
ALAN GREENSPAN -
History cannot be reduced to a set of statistics and probabilities.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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No one has ever eliminated any of that stuff.
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How do we know when irrational exuberance has unduly escalated asset values?
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The worst have failed; investors no longer fund them and are not likely to in the future.
ALAN GREENSPAN -
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
ALAN GREENSPAN -
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
ALAN GREENSPAN






