Human beings make mistakes, ... I know of no supervisory action we can take that will prevent that. I know of no legislation to help us prevent them from making dumb mistakes.
More Quotes from Alan Greenspan:
The current surge in oil prices, though noticeable, is likely to prove significantly less consequential to economic growth and inflation than the surge in the 1970s,Alan Greenspan
The effects of the present merger wave are yet to be determined, ... But, unless a relationship between bigness and market concentration can be more firmly rooted in anti-competitive behavior, bigness, per se, does not appear to be an issue for national economic policy.
Alan Greenspan
Indeed only such highly liquid portfolios would be consistent with (government-sponsored enterprises') mission of providing primary mortgage market liquidity during a crisis, particularly a financial crisis,
Alan Greenspan
It is decidedly not true that nice guys finish last, as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
Alan Greenspan
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
Alan Greenspan
Lower equity prices and higher financing costs should damp household and business spending, and greater uncertainty and risk aversion may also lead to more cautious spending behavior,
Alan Greenspan
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