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.
ALAN GREENSPAN
The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
More Alan Greenspan Quotes
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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.
ALAN GREENSPAN -
There are no easy choices. Easy choices are long gone.
ALAN GREENSPAN -
I have long argued that paying down the national debt is beneficial for the economy.
ALAN GREENSPAN -
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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The process of innovation is, of course, never ending.
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Credit-default swaps, I think, have serious problems associated with them.
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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 -
Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
ALAN GREENSPAN -
And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPAN -
Significantly opening up immigration to skilled workers solves two problems.
ALAN GREENSPAN