Alan Greenspan

United States
Born on 6 Mar 1926


If risky investments turn out poorly � as risky investments are wont to do on occasion � governments or international financial institutions should not endeavor to shield investors from loss. This is as it should be, since investors earn premiums to compensate for the risks of such investments.
Private capital markets are the fundamental building block of the capitalist system of resource allocation across activities and over time. Such markets can function properly only if investors bear the costs of their bad decisions and bad luck and reap the benefits of their good decisions and good luck.


On Anger: "For every minute you remain angry, you give up sixty seconds of peace of mind."
On Destiny: "Our destiny exercises its influence over us even when, as yet, we have not learned its nature: it is our future that lays down the law of our today."
Human, All Too Human
On Friendship: "A crowd is not company; and faces are but a gallery of pictures; and talk but a tinkling cymbal, where there is no love."