Market financed withdrawals of home equity in recent years.
ALAN GREENSPANIf we are dealing with psychology, then the thermometers one uses to measure it have an effect.
More Alan Greenspan Quotes
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No one has ever eliminated any of that stuff.
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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’.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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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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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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And the percentage changes in wage rates would be the same for all job grades.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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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.
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Derivatives have permitted the unbundling of financial risks.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
ALAN GREENSPAN -
Indeed, better risk management may be the only truly necessary element of success in banking.
ALAN GREENSPAN