Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
ALAN GREENSPANAnd whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
More Alan Greenspan Quotes
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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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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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Any informed borrower is simply less vulnerable to fraud and abuse.
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I’m a plain soap kind of guy.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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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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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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They seem to sense… that gold and economic freedom are inseparable.
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I’m a better economist than I was a sax player.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPAN