Quotes About Alan Greenspan

Looking back at that belief during hearings this fall on Capitol Hill, Alan Greenspan said out loud, "I have found a flaw." Congressman Henry Waxman pushed him, responding, "In other words, you found that your view of the world, your ideology, was not right; it wasn't working." "Absolutely, precisely," Greenspan said.

How do we know when irrational exuberance has unduly escalated asset values

No man bears more responsibility for the present worldwide financial crisis and coming depression than Alan Greenspan.

During the dot-com bubble, most people did not use a persuasive theory to gauge whether stock prices were too high, too low, or just right. Instead, as they watched stock prices go up, they invented explanations to rationalize what was happening. They talked about Moore's Law, smart kids, and Alan Greenspan. Data without theory.

Alan Greenspan is the worst Chairman of the Fed in history.

Fear is a far more dominant force in human behaviour than euphoria - I would never have expected that or given it a moment's thought before, but it shows up in the data in so many ways.

I wasn't able to do much reading when I was chairman of the Reserve Board. The workload was too large, and the luxury of reading was not available to me. So I caught up a good deal when I left office.

Remember, Alan Greenspan was a member of Ayn Rand's collective. To understand this is to understand why we are doomed with the Federal Reserve.

After that, the men in the room rushed for the exits, apparently to sell their shares in Bear Stearns. By the time Alan Greenspan arrived to speak, there was hardly anyone who cared to hear what he had to say. The audience was gone. By Monday, Bear Stearns was of course gone, too, sold to J.P. Morgan for $2 a share.*

Alan Greenspan assures us that home prices are not prone to bubbles—or major deflations—on any national scale," he'd said. "This is ridiculous, of course…. In 1933, during the fourth year of the Great Depression, the United States found itself in the midst of a housing crisis that put housing starts at 10% of the level of 1925. Roughly half of all mortgage debt was in default.

When the former Fed chairman was in, Alan Greenspan was in, there was a saying back in those days that you called the 'Greenspan put.' Any time the treasury secretary - for the Fed chairman - said something, the market saw that as good news, and it took off.

If you believe that markets operate in Alan Greenspan fashion, then you don't inquire into the details.