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Any informed borrower is simply less vulnerable to fraud and abuse.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
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Jazz Musician
Politician
New York City
New York
Money
Fraud
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Vulnerable
Abuse
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More quotes by Alan Greenspan

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The process of innovation is, of course, never ending.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices, ... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, 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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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.
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Significantly opening up immigration to skilled workers solves two problems. The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
Alan Greenspan
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
Alan Greenspan
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If prices go down, we will have problems - problems in the sense of spillover to other areas.
Alan Greenspan
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Indeed, better risk management may be the only truly necessary element of success in banking.
Alan Greenspan
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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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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
Alan Greenspan
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
Alan Greenspan
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn't be taking it to those who are willing to and are capable of doing so.
Alan Greenspan
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If you think you understand what I am saying you do not understand what I am saying.
Alan Greenspan
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...our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
Alan Greenspan
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I'm not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
Alan Greenspan
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
Alan Greenspan
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.
Alan Greenspan
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Productivity is notoriously difficult to predict.
Alan Greenspan
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Excessive optimism sows the seeds of its own reversal.
Alan Greenspan
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The Iraq War is largely about oil.
Alan Greenspan