Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
ALAN GREENSPANSuch caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
More Alan Greenspan Quotes
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No one has ever eliminated any of that stuff.
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They seem to sense… that gold and economic freedom are inseparable.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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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When trust is lost, a nation’s ability to transact business is palpably undermined.
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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The Iraq War is largely about oil.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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I’m a better economist than I was a sax player.
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Derivatives have permitted the unbundling of financial risks.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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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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The worst have failed; investors no longer fund them and are not likely to in the future.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
ALAN GREENSPAN