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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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Alternative Belief Consumer Country Great Lender might Mortgage Product Provide Traditional

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

As long as we issue fiat currency, I see no alternative to a legal tender law.
ALAN GREENSPAN

Alternative Currency Issue Law Legal Long Tender
Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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Banker Become Central Incoherence Member
Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Gold Insidious Process Property Protector Right Stand Way
I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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Amateurs want to be right. Professionals want to make money.
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Amateur Money Professional Right
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.
ALAN GREENSPAN

Borrow Down Equity Historical Payment Significant Some Unusual Wipe
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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Group Minute Pleasantries Political Rhetoric Security Solve
I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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Gold Governor Happen Little Market Question Raise Treasury
Productivity is notoriously difficult to predict.
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Difficult Notorious Predict Productivity
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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Absence Confiscation God Inflation Protect Save
No one has ever eliminated any of that stuff.
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Eliminate No One Stuff
Derivatives have permitted the unbundling of financial risks.
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Derivative Financial Permit Risk Unbound
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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Already Asset Business Caution Economy Great Lost Momentum Must Possibly Predictable Remain Spend Weakness
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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Capitalism Cardinal Demand Integrity Interest Market Piece Trustworthy Vice Virtue
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?
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Asset Escalate Exuberance Irrational Unduly Value
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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Country Crise Current End Financial Most Retrospect Since War Wrench

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