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.
ALAN GREENSPANIn the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
More Alan Greenspan Quotes
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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Credit-default swaps, I think, have serious problems associated with them.
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Significantly opening up immigration to skilled workers solves two problems.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPAN -
We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
ALAN GREENSPAN -
If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
ALAN GREENSPAN -
…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
ALAN GREENSPAN -
These days, even out of office, I still read economic reports.
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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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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPAN -
Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
ALAN GREENSPAN -
Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPAN -
We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
ALAN GREENSPAN