Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
ALAN GREENSPANHistory cannot be reduced to a set of statistics and probabilities.
More Alan Greenspan Quotes
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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If I say something which you understand fully in this regard, I probably made a mistake.
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I’m a better economist than I was a sax player.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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And she always has so much fun doing it. We make a good team.
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Amateurs want to be right. Professionals want to make money.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Whatever you tax you get less of.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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The process of innovation is, of course, never ending.
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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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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPAN