Any informed borrower is simply less vulnerable to fraud and abuse.
ALAN GREENSPANThe recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
More Alan Greenspan Quotes
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History cannot be reduced to a set of statistics and probabilities.
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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If I’ve made myself clear, I’ve misspoken.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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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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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
ALAN GREENSPAN