I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
Alan GreenspanRead
By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
Interpretation
What this quote means
The growth of financial derivatives has greatly impacted the finance industry over the last ten years.
Alan Greenspan highlights the monumental shift in the finance sector attributed to the rise of financial derivatives. These complex financial instruments, which derive their value from underlying assets, have transformed markets, risk management practices, and investment strategies, emphasizing their significance during the past decade in altering financial landscapes.
Themes
FinanceDerivativesInvestmentRiskMarket
In practice
Example use cases
In a finance seminar discussing modern investment strategies, this quote could illustrate the importance of understanding financial derivatives.
More from Alan Greenspan
All quotes βThere's no other job in public life that is like chairman of the Fed.
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Since 1948 I have spent every single day thinking how the economic and political worlds have changed.
Alan GreenspanRead
Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States. But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow.
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I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.
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Every economy exists, no matter what the level of democracy, has elements of crony capitalism. It's - given human nature and given the democratic structures, which we all, I assume, adhere to, that is an inevitable consequence.
Alan GreenspanRead
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