Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
ALAN GREENSPANIt’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
More Alan Greenspan Quotes
-
-
While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
ALAN GREENSPAN -
Market financed withdrawals of home equity in recent years.
ALAN GREENSPAN -
I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
ALAN GREENSPAN -
We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPAN -
Amateurs want to be right. Professionals want to make money.
ALAN GREENSPAN -
The worst have failed; investors no longer fund them and are not likely to in the future.
ALAN GREENSPAN -
Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
ALAN GREENSPAN -
The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
ALAN GREENSPAN -
If you think you understand what I am saying you do not understand what I am saying.
ALAN GREENSPAN -
The need for values is inbred. Their content is not.
ALAN GREENSPAN -
If prices go down, we will have problems – problems in the sense of spillover to other areas.
ALAN GREENSPAN -
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…
ALAN GREENSPAN -
Significantly opening up immigration to skilled workers solves two problems.
ALAN GREENSPAN -
We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
ALAN GREENSPAN -
…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.
ALAN GREENSPAN