It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
ALAN GREENSPANRules cannot take the place of character.
More Alan Greenspan Quotes
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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.
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What an ideology is is a conceptual framework with the way people deal with reality.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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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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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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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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If I say something which you understand fully in this regard, I probably made a mistake.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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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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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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
ALAN GREENSPAN