Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
ALAN GREENSPANNo one has ever eliminated any of that stuff.
More Alan Greenspan Quotes
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And she always has so much fun doing it. We make a good team.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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If I’ve made myself clear, I’ve misspoken.
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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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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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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But rules cannot substitute for character.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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I have long argued that paying down the national debt is beneficial for the economy.
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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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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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If I seem unduly clear to you, you must have misunderstood what I said.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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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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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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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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The 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.
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
ALAN GREENSPAN