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.
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’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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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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The process of innovation is, of course, never ending.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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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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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPAN