Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
ALAN GREENSPANI 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.
More Alan Greenspan Quotes
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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Rules cannot take the place of character.
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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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…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.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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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 current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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No one has ever eliminated any of that stuff.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
ALAN GREENSPAN