Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
Capable
Extraordinarily
Taking
Transfer
Risk
Transfers
Willing
Marketplace
Business
Vehicle
Found
Finance
Years
Useful
Shouldn
Derivatives

More quotes by Alan Greenspan

Image
Regulation - which is based on force and fear - undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
Alan Greenspan
Image
Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
Alan Greenspan
Image
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
Image
I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
Alan Greenspan
Image
The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
Alan Greenspan
Image
Revolutions are something you see only in retrospect.
Alan Greenspan
Image
These days, even out of office, I still read economic reports.
Alan Greenspan
Image
Any informed borrower is simply less vulnerable to fraud and abuse.
Alan Greenspan
Image
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
Image
You can't have the capitalist system if an increasing number of people think it is unjust.
Alan Greenspan
Image
There are no easy choices. Easy choices are long gone.
Alan Greenspan
Image
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.
Alan Greenspan
Image
How do we know when irrational exuberance has unduly escalated asset values?
Alan Greenspan
Image
Excessive optimism sows the seeds of its own reversal.
Alan Greenspan
Image
The process of innovation is, of course, never ending.
Alan Greenspan
Image
Regulators have not been able to achieve the level of future clarity required to act pre-emptively. The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so...
Alan Greenspan
Image
We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
Alan Greenspan
Image
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.
Alan Greenspan
Image
Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking
Alan Greenspan
Image
Without calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.
Alan Greenspan