Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
ALAN GREENSPANAmateurs want to be right. Professionals want to make money.
More Alan Greenspan Quotes
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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I’m a plain soap kind of guy.
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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All taxes are a drag on economic growth. It’s only a question of degree.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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These days, even out of office, I still read economic reports.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
ALAN GREENSPAN