The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
ALAN GREENSPANThe only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
ALAN GREENSPANI was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
ALAN GREENSPANWhat an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPANThe problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
ALAN GREENSPANThe companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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 GREENSPANIndeed, better risk management may be the only truly necessary element of success in banking.
ALAN GREENSPANThe worst have failed; investors no longer fund them and are not likely to in the future.
ALAN GREENSPANI’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
ALAN GREENSPANI love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
ALAN GREENSPANI’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.
ALAN GREENSPANWe are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
ALAN GREENSPANI’m a better economist than I was a sax player.
ALAN GREENSPANThe 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…
ALAN GREENSPANRules cannot take the place of character.
ALAN GREENSPANWe need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPAN