Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
ALAN GREENSPANAny onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
More Alan Greenspan Quotes
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The Iraq War is largely about oil.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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I’m a better economist than I was a sax player.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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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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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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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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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 number one problem in today’s generation and economy is the lack of financial literacy.
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
ALAN GREENSPAN






