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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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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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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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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But rules cannot substitute for character.
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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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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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All taxes are a drag on economic growth. It’s only a question of degree.
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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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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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Whatever you tax you get less of.
ALAN GREENSPAN