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When trust is lost, a nation's ability to transact business is palpably undermined.

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
Nations
Ability
Business
Lost
Palpably
Transact
Undermined
Nation
Trust

More quotes by Alan Greenspan

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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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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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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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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.
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If I say something which you understand fully in this regard, I probably made a mistake.
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Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted.
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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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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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I'm a better economist than I was a sax player.
Alan Greenspan
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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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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.
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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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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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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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If I've made myself clear, I've misspoken.
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We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.
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But rules cannot substitute for character.
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I love facts and figures. It's like following a detective story, piecing together what's going on in the economy.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.
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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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