We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
ALAN GREENSPANYet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
More Alan Greenspan Quotes
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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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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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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All taxes are a drag on economic growth. It’s only a question of degree.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly 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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If 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.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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We 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.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
ALAN GREENSPAN