In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
ALAN GREENSPANAnyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
More Alan Greenspan Quotes
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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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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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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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.
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The free lunch has still to be invented.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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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.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
ALAN GREENSPAN