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Credit-default swaps, I think, have serious problems associated with them.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
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Jazz Musician
Politician
New York City
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More quotes by 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.
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These days, even out of office, I still read economic reports.
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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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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.
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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.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary, ... Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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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.
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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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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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Without calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures. Those of us who have looked to the self-interest of lending institutions to protect shareholders' equity are in a state of shocked disbelief.
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