History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPANEven 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.
More Alan Greenspan Quotes
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They seem to sense… that gold and economic freedom are inseparable.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Credit-default swaps, I think, have serious problems associated with them.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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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.
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I’m a better economist than I was a sax player.
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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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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
ALAN GREENSPAN