Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.
Alan GreenspanThe United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
Alan GreenspanI 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 GreenspanThis decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets. Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
Alan Greenspan