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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
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New York City
New York
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More quotes by Alan Greenspan

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But rules cannot substitute for character.
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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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If I say something which you understand fully in this regard, I probably made a mistake.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted.
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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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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.
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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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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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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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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The guiding purpose of the government regulator is to prevent rather than to create something.
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It's a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.
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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. The worst have failed investors no longer fund them and are not likely to in the future.
Alan Greenspan
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Rules cannot take the place of character.
Alan Greenspan
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Before I met Ayn Rand, I was a logical positivist, and accordingly, I didn't believe in absolutes, moral or otherwise. If I couldn't prove a proposition with facts and figures, it was without merit.
Alan Greenspan
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Gold, unlike all other commodities, is a currency...and the major thrust in the demand for gold is not for jewelry. It's not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
Alan Greenspan
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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
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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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