By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPANIt is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
More Alan Greenspan Quotes
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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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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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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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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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I’m a plain soap kind of guy.
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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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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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And she always has so much fun doing it. We make a good team.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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The guiding purpose of the government regulator is to prevent rather than to create something.
ALAN GREENSPAN