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 GREENSPAN

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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 Greenspan

Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.

ALAN GREENSPAN

Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPAN

Derivate Privately Profession Regulation Transaction
Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
ALAN GREENSPAN

Should
Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
ALAN GREENSPAN

Among Configuration Occasionally Priest Some Succeed
Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
ALAN GREENSPAN

Consensus Cut Fiscal Irresponsible Tax Trigger
This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.

ALAN GREENSPAN

This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN

Aftermath Period Premium Protract
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.

ALAN GREENSPAN

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.
ALAN GREENSPAN

Arbitrary Guarantee Inspector Nothing
The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
ALAN GREENSPAN

Correct Economy Flexible Greater Inevitable More Self Unanticipated
Political decisions are never random and will always lose out to innovative alternatives.

ALAN GREENSPAN

Political decisions are never random and will always lose out to innovative alternatives.
ALAN GREENSPAN

Innovative Political Random
Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.

ALAN GREENSPAN

Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
ALAN GREENSPAN

Grop Possess Exist Senator
They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
ALAN GREENSPAN

Probability
The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.

ALAN GREENSPAN

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
ALAN GREENSPAN

Crise Current End Financial Most Retrospect Since Wrench
The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
ALAN GREENSPAN

Credit Economy Extend Find Lag Number Small
Indeed, better risk management may be the only truly necessary element of success in banking.

ALAN GREENSPAN

Indeed, better risk management may be the only truly necessary element of success in banking.
ALAN GREENSPAN

Bank Indeed Only Truly
All taxes are a drag on economic growth. It’s only a question of degree.
ALAN GREENSPAN

Drag Economic Only Tax
We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.

ALAN GREENSPAN

We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPAN

Box Fund Lock Make Phantom Real
I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
ALAN GREENSPAN

Baseball Olf Redskin Root Tennis

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.

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