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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
Average
Musician
Saws
Band
Bigs
Amateur
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Fading
Thing
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More quotes by Alan Greenspan

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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.
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I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal and numerical, and communication skills.
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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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Excessive optimism sows the seeds of its own reversal.
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But rules cannot substitute for character.
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The process of innovation is, of course, never ending.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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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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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. But material success is possible in this world and far more satisfying when it comes without exploiting others.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.
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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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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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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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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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...our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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The free lunch has still to be invented.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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