black
grey
blue
red
brown
white

The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…

Alan Greenspan

We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
ALAN GREENSPAN

Anything Common Crise Human Like Look Nature
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
ALAN GREENSPAN

Elegance Feel Generation Gut Important Mathematical More Old Trader Year
I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
ALAN GREENSPAN

Belief Context Dramatical General Growth Institution Market Occur Risk Structure
I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
ALAN GREENSPAN

Acknowledge Country Inconvenient Large Saddened
Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
ALAN GREENSPAN

Against Always Any Believe Fraud Law Need Probably
How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPAN

Escalate Exuberance Irrational Unduly Value
If I’ve made myself clear, I’ve misspoken.
ALAN GREENSPAN

Clear Made Misspken Myself
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

Alternative Benefit Choice Judgement Policy Probability
Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPAN

Derivate Negotiate Privately Profession Regulation Transaction
I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
ALAN GREENSPAN

Continue Go Higher Market More Stock
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
The need for values is inbred. Their content is not.
ALAN GREENSPAN

Content Inbred Need Value
Fiat money in extremis is accepted by nobody. Gold is always accepted.
ALAN GREENSPAN

Accept Extremis Fiat God Money Nobody
Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
ALAN GREENSPAN

Develop Fiscal Path Place Policy Protection Regard Reluctance Sustainable Trade
The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
ALAN GREENSPAN

Chosen Customer Effective Elsewhere Investor Propensity Skill Technical
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
ALAN GREENSPAN

Absence Confiscation God Inflation Protect Save

The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…

Related Topics

Popular Authors

The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…

Related Topics

Popular Authors

More Alan Greenspan Quotes