Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
ALAN GREENSPANThen fear hits, and it comes down very sharply. When I started to look at that.
More Alan Greenspan Quotes
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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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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It 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.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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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.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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I’m a plain soap kind of guy.
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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Revolutions are something you see only in retrospect.
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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…
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Greenspan, who knew so much more than most, knew far less than most supposed.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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I have long argued that paying down the national debt is beneficial for the economy.
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History cannot be reduced to a set of statistics and probabilities.
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Market financed withdrawals of home equity in recent years.
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All taxes are a drag on economic growth. It’s only a question of degree.
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And she always has so much fun doing it. We make a good team.
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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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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
ALAN GREENSPAN -
Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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If I seem unduly clear to you, you must have misunderstood what I said.
ALAN GREENSPAN -
Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
ALAN GREENSPAN