There is no evidence that the business cycle has been repealed.
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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Rules cannot take the place of character.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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These days, even out of office, I still read economic reports.
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Derivatives have permitted the unbundling of financial risks.
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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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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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I’m a plain soap kind of guy.
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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.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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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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There are no easy choices. Easy choices are long gone.
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What an ideology is is a conceptual framework with the way people deal with reality.
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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.
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Credit-default swaps, I think, have serious problems associated with them.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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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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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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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