But material success is possible in this world and far more satisfying when it comes without exploiting others.
ALAN GREENSPANIt seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
More Alan Greenspan Quotes
-
-
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.
ALAN GREENSPAN -
If I say something which you understand fully in this regard, I probably made a mistake.
ALAN GREENSPAN -
Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
ALAN GREENSPAN -
Amateurs want to be right. Professionals want to make money.
ALAN GREENSPAN -
Any informed borrower is simply less vulnerable to fraud and abuse.
ALAN GREENSPAN -
We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
ALAN GREENSPAN -
Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
ALAN GREENSPAN -
What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
ALAN GREENSPAN -
While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
ALAN GREENSPAN -
Productivity is notoriously difficult to predict.
ALAN GREENSPAN -
Before I met Ayn Rand, I was a logical positivist, and accordingly,
ALAN GREENSPAN -
Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
ALAN GREENSPAN -
The free lunch has still to be invented.
ALAN GREENSPAN -
There are no easy choices. Easy choices are long gone.
ALAN GREENSPAN -
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