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We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.

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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I'm always amazed that my wife can handle different subjects - one day politics, the next day foreign policy. And she always has so much fun doing it. We make a good team.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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Before I met Ayn Rand, I was a logical positivist, and accordingly, 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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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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As long as we issue fiat currency, I see no alternative to a legal tender law.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged... and as long as there is debt, there can be failure and contagion.
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The probability of ten consecutive heads is 0.1 percent thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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History demonstrates that participants in financial markets are susceptible to waves of optimism. Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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The number one problem in today's generation and economy is the lack of financial literacy.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Whatever you tax you get less of.
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The need for values is inbred. Their content is not.
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Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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All taxes are a drag on economic growth. It's only a question of degree.
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But rules cannot substitute for character.
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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.
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Well, you probably will always believe there should be laws against fraud, and I don't think there is any need for a law against fraud.
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Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.
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