To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
ALAN GREENSPANWas sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
More Alan Greenspan Quotes
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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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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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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History cannot be reduced to a set of statistics and probabilities.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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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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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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So there is no reason to suspect that the actual process of boosting rates would be any different.
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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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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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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…
ALAN GREENSPAN