A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
ALAN GREENSPANThe process of innovation is, of course, never ending.
More Alan Greenspan Quotes
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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The need for values is inbred. Their content is not.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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Political decisions are never random and will always lose out to innovative alternatives.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: 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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These days, even out of office, I still read economic reports.
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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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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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No one has ever eliminated any of that stuff.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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The worst have failed; investors no longer fund them and are not likely to in the future.
ALAN GREENSPAN