Any informed borrower is simply less vulnerable to fraud and abuse.
ALAN GREENSPAN
If I seem unduly clear to you, you must have misunderstood what I said.
More Alan Greenspan Quotes
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Amateurs want to be right. Professionals want to make money.
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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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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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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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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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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
ALAN GREENSPAN