Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.

The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.

Whatever you tax you get less of.

Senator, we are groping for understanding, the knowledge you assume I possess doesn't exist' - 'The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills' - 'Senator, if I seem clear to you, you must have misunderstood me' - 'Unfortunately, Senator, nobody knows where the next innovative idea is coming from. Political decisions are never random and will always lose out to innovative alternatives

The need for values is inbred. Their content is not.

If you think you understand what I am saying you do not understand what I am saying.

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