Credit-default swaps, I think, have serious problems associated with them.
ALAN GREENSPANSenator, if I seem clear to you, you must have misunderstood me’.
More Alan Greenspan Quotes
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If I’ve made myself clear, I’ve misspoken.
ALAN GREENSPAN -
Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
ALAN GREENSPAN -
They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
ALAN GREENSPAN -
This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
ALAN GREENSPAN -
…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
ALAN GREENSPAN -
If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
ALAN GREENSPAN -
What an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPAN -
It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPAN -
Political decisions are never random and will always lose out to innovative alternatives.
ALAN GREENSPAN -
Excessive optimism sows the seeds of its own reversal.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
ALAN GREENSPAN -
The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
ALAN GREENSPAN -
It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
ALAN GREENSPAN