It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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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They seem to sense… that gold and economic freedom are inseparable.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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Senator, if I seem clear to you, you must have misunderstood me’.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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The free lunch has still to be invented.
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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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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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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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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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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.
ALAN GREENSPAN