The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
ALAN GREENSPANThe use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
ALAN GREENSPANThe increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
ALAN GREENSPANFear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPANA 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.
ALAN GREENSPANRegulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPANCrony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
ALAN GREENSPANAt the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
ALAN GREENSPANIt keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
ALAN GREENSPANNow, I only play very occasionally, and in fact, more piano than clarinet or sax.
ALAN GREENSPANIn an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
ALAN GREENSPANEnhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
ALAN GREENSPANThe probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
ALAN GREENSPANNor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
ALAN GREENSPANI 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 GREENSPANMany of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
ALAN GREENSPANNo one has ever eliminated any of that stuff.
ALAN GREENSPAN