I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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The need for values is inbred. Their content is not.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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Derivatives have permitted the unbundling of financial risks.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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Nor 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.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
ALAN GREENSPAN