Excessive optimism sows the seeds of its own reversal.
ALAN GREENSPANExcessive optimism sows the seeds of its own reversal.
ALAN GREENSPANI was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
ALAN GREENSPANAnd the percentage changes in wage rates would be the same for all job grades.
ALAN GREENSPANI think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
ALAN GREENSPANThe current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
ALAN GREENSPANIndeed, better risk management may be the only truly necessary element of success in banking.
ALAN GREENSPANI came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
ALAN GREENSPANThe 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 GREENSPANThe free lunch has still to be invented.
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 GREENSPANThis is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPANHistory demonstrates that participants in financial markets are susceptible to waves of optimism.
ALAN GREENSPANWe as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
ALAN GREENSPANIf I seem unduly clear to you, you must have misunderstood what I said.
ALAN GREENSPANIt signals problems with respect to currency markets. Central banks should pay attention to it.
ALAN GREENSPANThe process of innovation is, of course, never ending.
ALAN GREENSPAN