Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPANCredit-default swaps, I think, have serious problems associated with them.
More Alan Greenspan Quotes
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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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The need for values is inbred. Their content is not.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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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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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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Amateurs want to be right. Professionals want to make money.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
ALAN GREENSPAN