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’.
ALAN GREENSPANImprovements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
More Alan Greenspan Quotes
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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Gold still represents the ultimate form of payment in the world.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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They seem to sense… that gold and economic freedom are inseparable.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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Derivatives have permitted the unbundling of financial risks.
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
ALAN GREENSPAN