Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
ALAN GREENSPANIt 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.
More Alan Greenspan Quotes
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But rules cannot substitute for character.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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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.
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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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Anything that we can do to raise personal savings is very much in the interest of this country.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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Amateurs want to be right. Professionals want to make money.
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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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The guiding purpose of the government regulator is to prevent rather than to create something.
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And she always has so much fun doing it. We make a good team.
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There is no evidence that the business cycle has been repealed.
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What an ideology is is a conceptual framework with the way people deal with reality.
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Revolutions are something you see only in retrospect.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
ALAN GREENSPAN