If I say something which you understand fully in this regard, I probably made a mistake.
ALAN GREENSPANIf we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
More Alan Greenspan Quotes
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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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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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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Credit-default swaps, I think, have serious problems associated with them.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
ALAN GREENSPAN