I’m a plain soap kind of guy.
ALAN GREENSPANAmerican consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
More Alan Greenspan Quotes
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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
ALAN GREENSPAN -
Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
ALAN GREENSPAN -
A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
ALAN GREENSPAN -
No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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How do we know when irrational exuberance has unduly escalated asset values?
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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Credit-default swaps, I think, have serious problems associated with them.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
ALAN GREENSPAN -
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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All taxes are a drag on economic growth. It’s only a question of degree.
ALAN GREENSPAN -
Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPAN