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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.

Alan Greenspan

The tub helps me relax, and it’s a great place to read.
ALAN GREENSPAN

Great Help Place Read Tub
A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
ALAN GREENSPAN

Bank Decline Foreclosure Housing Level National Need Significant Substantial Trigger
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?
ALAN GREENSPAN

Country Decade Escalate Irrational Past Subject
How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPAN

Escalate Exuberance Irrational Unduly Value
Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
ALAN GREENSPAN

Banker Become Central Incoherence Member
In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
ALAN GREENSPAN

Corruption Exist Extend Favor General Government Sell Something
If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
ALAN GREENSPAN

Economic Knowledge Preeminent Remain Transform Value
No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
ALAN GREENSPAN

Abnormal Exposure Haul Long Matter No Return Scheme Skillful Sustain Trade
Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPAN

Gold Insidious Process Property Protector Right Stand Way
It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
ALAN GREENSPAN

Function Human Keep Minimum Nature Regrettably Successful
The Iraq War is largely about oil.
ALAN GREENSPAN

Country Largely Oil War
It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
ALAN GREENSPAN

Competency Experience Foundation Manipulation Mathematics Numerical Understand
Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPAN

Far Greenspan Knew Less More Most Suppose
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

Formation House Household Increase New Only Sustainable
I’m a better economist than I was a sax player.
ALAN GREENSPAN

Better Economist Player
People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
ALAN GREENSPAN

Cannot Cause Far Forecast Future Go People Realize Probability

Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.

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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.

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