This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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
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I’m a better economist than I was a sax player.
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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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Rules cannot take the place of character.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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No one has ever eliminated any of that stuff.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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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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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPAN