--- title: "Meaning & Key Takeaway of: Still, one could argue—and many did—that…" description: "\"“Still, one could argue—and many did—that Greenspan, at least, had no business being quite so shocked. Over the years, countless people had challenged ..." image: "https://sms4smile.com/quotes/i/30b/kathryn-schulz-7782_paul-krugman_still-one-could-argue-and-many-did-that_2623116.png" --- # Still, one could argue—and many did—that Greenspan, at… ![“Still, one could argue—and many did—that Greenspan, at least, had no business being quite so shocked. Over the years, countless people had challenged his deregulatory dogma, including (to name just a few) Joseph Stiglitz and Paul Krugman, both Nobel Prize–winning economists, and Brooksley Born…” quote by Kathryn Schulz](https://sms4smile.com/quotes/i/30b/kathryn-schulz-7782_paul-krugman_still-one-could-argue-and-many-did-that_2623116.png) [Download](https://sms4smile.com/quotes/i/30b/kathryn-schulz-7782_paul-krugman_still-one-could-argue-and-many-did-that_2623116.png) [Open image](https://sms4smile.com/quotes/i/30b/kathryn-schulz-7782_paul-krugman_still-one-could-argue-and-many-did-that_2623116.png) > ““Still, one could argue—and many did—that Greenspan, at least, had no business being quite so shocked. Over the years, countless people had challenged his deregulatory dogma, including (to name just a few) Joseph Stiglitz and Paul Krugman, both Nobel Prize–winning economists, and Brooksley Born, who was head of the Commodity Futures Trading Commission from 1996 to 1999. Born eventually became something of a Cassandra figure for the crisis, since she repeatedly called for regulating the market for derivatives, those ultracomplex financial products that eventually helped bring down the economy. Those calls were silenced when Greenspan, along with then-Treasury Secretary Robert Rubin and then-Securities and Exchange Commission Chair Arthur Levitt, took the extraordinary step of convincing Congress to pass legislation forbidding Born’s agency from taking any action for the duration of her term.”” [Kathryn Schulz](https://sms4smile.com/quotes/author/kathryn-schulz/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Regulators ignored warnings about complex derivatives, leading to crisis; dissenting voices were silenced. **In simple terms:** Ignored warnings caused crisis. Key Takeaway Heed expert warnings to prevent systemic risk. Themes finance regulation risk management Mood critical serious Type analytical historical When to use this quote - government - financial institutions - investors - policy makers Key Concepts cautionary tale policy failure Questions to Reflect On - Why are warnings often ignored? - How can dissent be protected? A Different Perspective Political and economic pressures can suppress dissent. ★ ★ ★ ★ ★ No ratings yet [Economists Brooksley](https://sms4smile.com/quotes/about/economists-brooksley-2127268/) [Greenspan Business](https://sms4smile.com/quotes/about/greenspan-business-2127267/) [Krugman Nobel](https://sms4smile.com/quotes/about/krugman-nobel-2127266/) [Paul Krugman](https://sms4smile.com/quotes/about/paul-krugman-277637/) [Silenced Greenspan](https://sms4smile.com/quotes/about/silenced-greenspan-2127265/) ## Related quotes > [“hat are the effects of increasing minimum wages?” asks Paul Krugman. “Any Econ 101 student can tell you the answer: The higher wage reduces…](https://sms4smile.com/quotes/don-watkins/hat-are-the-effects-of-increasing-minimum-wages-asks-paul-krugman-any/) [Don Watkins](https://sms4smile.com/quotes/author/don-watkins/) > [Paul Krugman, a professor at MIT and a consultant to the IMF, the World Bank, the United Nations, and the Trilateral Commission, is certainly…](https://sms4smile.com/quotes/paul-craig-roberts/paul-krugman-a-professor-at-mit-and-a-consultant-to-the-imf-the-world/) [Paul Craig Roberts](https://sms4smile.com/quotes/author/paul-craig-roberts/) > [I think the only op-ed columnist in 'The Times' - where I read all of his stuff - is Paul Krugman.](https://sms4smile.com/quotes/neal-brennan/i-think-the-only-op-ed-columnist-in-the-times-where-i-read-all-of-his/) [Neal Brennan](https://sms4smile.com/quotes/author/neal-brennan/) > [“Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble,” cried New York Times columnist Paul Krugman in 2002.8 And that’s…](https://sms4smile.com/quotes/yaron-brook/alan-greenspan-needs-to-create-a-housing-bubble-to-replace-the-nasdaq/) [Yaron Brook](https://sms4smile.com/quotes/author/yaron-brook/) > [“A brick could be a columnist for the New York Times, and could even win a Nobel Prize. 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