Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
ALAN GREENSPANThis decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
More Alan Greenspan Quotes
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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If I say something which you understand fully in this regard, I probably made a mistake.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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The Iraq War is largely about oil.
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There is no evidence that the business cycle has been repealed.
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They seem to sense… that gold and economic freedom are inseparable.
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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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Indeed, better risk management may be the only truly necessary element of success in banking.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
ALAN GREENSPAN