There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
ALAN GREENSPANIn general, corruption tends to exist whenever governments have favors to extend, or something to sell.
More Alan Greenspan Quotes
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Productivity is notoriously difficult to predict.
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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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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.
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History cannot be reduced to a set of statistics and probabilities.
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Senator, if I seem clear to you, you must have misunderstood me’.
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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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There is no evidence that the business cycle has been repealed.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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The Iraq War is largely about oil.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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These days, even out of office, I still read economic reports.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
ALAN GREENSPAN