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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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Bank Equity Especially Interest Mistake Organisation Presume Self Share

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Amateurs want to be right. Professionals want to make money.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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I’m a better economist than I was a sax player.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
ALAN GREENSPAN

Abandonment Banking Credit Gold Made Possible Standard Statics System Use Welfare
If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
ALAN GREENSPAN

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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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Excessive Grow Over Own Reversal Seed Show Time
And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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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.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Create Government Guild Prevent Purpose Rather Regulation Something
I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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Banker Become Central Incoherence Member
I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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