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Institutions of the newer participants in global finance had not been tested, until recently...recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
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Jazz Musician
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New York City
New York
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Vulnerability
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More quotes by Alan Greenspan

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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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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.
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The need for values is inbred. Their content is not.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward. The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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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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Greenspan, who knew so much more than most, knew far less than most supposed.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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The tub helps me relax, and it's a great place to read.
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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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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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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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History cannot be reduced to a set of statistics and probabilities.
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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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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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All taxes are a drag on economic growth. It's only a question of degree.
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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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