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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
Entrepreneur
Jazz Musician
Politician
New York City
New York
Less
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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.
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives. But material success is possible in this world and far more satisfying when it comes without exploiting others.
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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. Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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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.
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There are no easy choices. Easy choices are long gone.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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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.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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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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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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I'm a plain soap kind of guy.
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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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You can't have the capitalist system if an increasing number of people think it is unjust.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I'm running into the tyranny of zero, which is where you can't reduce (the debt) any more
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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All taxes are a drag on economic growth. It's only a question of degree.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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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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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.
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