Institutions 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.
ALAN GREENSPANI 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.
More Alan Greenspan Quotes
-
-
Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
ALAN GREENSPAN -
The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
ALAN GREENSPAN -
In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
ALAN GREENSPAN -
Derivatives have permitted the unbundling of financial risks.
ALAN GREENSPAN -
I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPAN -
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 GREENSPAN -
Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
ALAN GREENSPAN -
Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPAN -
The Iraq War is largely about oil.
ALAN GREENSPAN -
If I say something which you understand fully in this regard, I probably made a mistake.
ALAN GREENSPAN -
The free lunch has still to be invented.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPAN -
They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
ALAN GREENSPAN -
Anything that we can do to raise personal savings is very much in the interest of this country.
ALAN GREENSPAN