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 GREENSPANAnd the percentage changes in wage rates would be the same for all job grades.
More Alan Greenspan Quotes
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
ALAN GREENSPAN -
If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
ALAN GREENSPAN -
There are no easy choices. Easy choices are long gone.
ALAN GREENSPAN -
Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
ALAN GREENSPAN -
If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
ALAN GREENSPAN -
Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPAN -
We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
ALAN GREENSPAN -
I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPAN -
I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
ALAN GREENSPAN -
Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPAN -
Credit-default swaps, I think, have serious problems associated with them.
ALAN GREENSPAN -
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 -
The need for values is inbred. Their content is not.
ALAN GREENSPAN -
But material success is possible in this world and far more satisfying when it comes without exploiting others.
ALAN GREENSPAN -
All taxes are a drag on economic growth. It’s only a question of degree.
ALAN GREENSPAN