Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPANIf you think you understand what I am saying you do not understand what I am saying.
More Alan Greenspan Quotes
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There are no easy choices. Easy choices are long gone.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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The need for values is inbred. Their content is not.
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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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If I seem unduly clear to you, you must have misunderstood what I said.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
ALAN GREENSPAN






