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 GREENSPANIf I say something which you understand fully in this regard, I probably made a mistake.
More Alan Greenspan Quotes
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The need for values is inbred. Their content is not.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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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.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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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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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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The free lunch has still to be invented.
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But rules cannot substitute for character.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPAN