Alan Greenspan
Alan Greenspan
Alan Greenspanis an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position...
NationalityAmerican
ProfessionEconomist
Date of Birth6 March 1926
CityNew York City, NY
CountryUnited States of America
I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
How do we know when irrational exuberance has unduly escalated asset values?
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 ...
Greenspan, who knew so much more than most, knew far less than most supposed ...
Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
If I've made myself clear, I've misspoken.
We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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.
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.
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.
The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses...While these tendencies were no doubt in train in the "old," pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
History cannot be reduced to a set of statistics and probabilities.
Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.