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I'm not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
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New York City
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Monopolies
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More quotes by Alan Greenspan

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The guiding purpose of the government regulator is to prevent rather than to create something.
Alan Greenspan
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn't be taking it to those who are willing to and are capable of doing so.
Alan Greenspan
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Amateurs want to be right. Professionals want to make money.
Alan Greenspan
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
Alan Greenspan
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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. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
Alan Greenspan
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.
Alan Greenspan
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
Alan Greenspan
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I've been in and out of Wall Street since 1949, and I've never seen the type of animosity between government and Wall Street. And I'm not sure where it comes from, but I suspect it's got to do with a general schism in this society which is really becoming ever more destructive.
Alan Greenspan
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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
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As long as we issue fiat currency, I see no alternative to a legal tender law.
Alan Greenspan
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Deficit spending is simply a scheme for the confiscation of wealth.
Alan Greenspan
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
Alan Greenspan
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
Alan Greenspan
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
Alan Greenspan
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
Alan Greenspan
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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
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The Iraq War is largely about oil.
Alan Greenspan
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
Alan Greenspan
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
Alan Greenspan
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
Alan Greenspan