But Rules Cannot Substitute For Character.

An Almost Hysterical Antagonism Toward The Gold Standard Is One Issue Which Unites Statists Of All Persuasions. They Seem To Sense... That Gold And Economic Freedom Are Inseparable.

The Use Of A Growing Array Of Derivatives And The Related Application Of More-sophisticated Approaches To Measuring And Managing Risk Are Key Factors Underpinning The Greater Resilience Of Our Largest Financial Institutions... Derivatives Have Permitted The Unbundling Of Financial Risks.

Greenspan, Who Knew So Much More Than Most, Knew Far Less Than Most Supposed.

It Has Been My Experience That Competency In Mathematics, Both In Numerical Manipulations And In Understanding Its Conceptual Foundations, Enhances A Person's Ability To Handle The More Ambiguous And Qualitative Relationships That Dominate Our Day-to-day Financial Decision-making

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.