I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
ALAN GREENSPANBy far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
More Alan Greenspan Quotes
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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The free lunch has still to be invented.
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And she always has so much fun doing it. We make a good team.
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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Political decisions are never random and will always lose out to innovative alternatives.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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Credit-default swaps, I think, have serious problems associated with them.
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I 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.
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I’m a better economist than I was a sax player.
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If I’ve made myself clear, I’ve misspoken.
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Productivity is notoriously difficult to predict.
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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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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
ALAN GREENSPAN






