We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
ALAN GREENSPANClearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
More Alan Greenspan Quotes
-
-
I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
ALAN GREENSPAN -
Rules cannot take the place of character.
ALAN GREENSPAN -
I’m a plain soap kind of guy.
ALAN GREENSPAN -
The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
ALAN GREENSPAN -
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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.
ALAN GREENSPAN -
The number one problem in today’s generation and economy is the lack of financial literacy.
ALAN GREENSPAN -
The process of innovation is, of course, never ending.
ALAN GREENSPAN -
But rules cannot substitute for character.
ALAN GREENSPAN -
You can’t have the capitalist system if an increasing number of people think it is unjust.
ALAN GREENSPAN -
By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPAN -
Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
Indeed, better risk management may be the only truly necessary element of success in banking.
ALAN GREENSPAN -
It signals problems with respect to currency markets. Central banks should pay attention to it.
ALAN GREENSPAN