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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The worst have failed investors no longer fund them and are not likely to in the future.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
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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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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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It is decidedly not true that nice guys finish last, as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions... Derivatives have permitted the unbundling of financial risks.
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The number one problem in today's generation and economy is the lack of financial literacy.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I'm running into the tyranny of zero, which is where you can't reduce (the debt) any more
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We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable, and the percentage changes in wage rates would be the same for all job grades.
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Whatever you tax you get less of.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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If prices go down, we will have problems - problems in the sense of spillover to other areas.
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But rules cannot substitute for character.
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It's a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.
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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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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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The process of innovation is, of course, never ending.
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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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