By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPANWithout calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
More Alan Greenspan Quotes
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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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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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Whatever you tax you get less of.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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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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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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Excessive optimism sows the seeds of its own reversal.
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Amateurs want to be right. Professionals want to make money.
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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.
ALAN GREENSPAN






