...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.

The process of innovation is, of course, never ending.

If I say something which you understand fully in this regard, I probably made a mistake.

I don't think it's possible for the Fed to end its easy-money policies in a trouble-free manner. Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets, so there is no reason to suspect that the actual process of boosting rates would be any different. I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.

Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking

We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ] if we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.

Greenspan, who knew so much more than most, knew far less than most supposed.