Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPANInstitutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
More Alan Greenspan Quotes
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Credit-default swaps, I think, have serious problems associated with them.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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There is no evidence that the business cycle has been repealed.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
ALAN GREENSPAN -
If I’ve made myself clear, I’ve misspoken.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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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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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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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.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
ALAN GREENSPAN