Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPANIt has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
More Alan Greenspan Quotes
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I’m a plain soap kind of guy.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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The 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.
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Gold still represents the ultimate form of payment in the world.
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And the percentage changes in wage rates would be the same for all job grades.
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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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What an ideology is is a conceptual framework with the way people deal with reality.
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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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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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Political decisions are never random and will always lose out to innovative alternatives.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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If you think you understand what I am saying you do not understand what I am saying.
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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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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
ALAN GREENSPAN