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.
ALAN GREENSPANIn general, corruption tends to exist whenever governments have favors to extend, or something to sell.
More Alan Greenspan Quotes
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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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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The free lunch has still to be invented.
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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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Credit-default swaps, I think, have serious problems associated with them.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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Senator, if I seem clear to you, you must have misunderstood me’.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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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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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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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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Indeed, better risk management may be the only truly necessary element of success in banking.
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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.
ALAN GREENSPAN