Any informed borrower is simply less vulnerable to fraud and abuse.
ALAN GREENSPANFear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
More Alan Greenspan Quotes
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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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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All taxes are a drag on economic growth. It’s only a question of degree.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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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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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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The Iraq War is largely about oil.
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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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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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
ALAN GREENSPAN