Political decisions are never random and will always lose out to innovative alternatives.
ALAN GREENSPANIndeed, better risk management may be the only truly necessary element of success in banking.
More Alan Greenspan Quotes
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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If you think you understand what I am saying you do not understand what I am saying.
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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.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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If I seem unduly clear to you, you must have misunderstood what I said.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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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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What an ideology is is a conceptual framework with the way people deal with reality.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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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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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
ALAN GREENSPAN