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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.

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
Periods
Risk
Economy
Premiums
History
Protracted
Aftermath
Kindly
Dealt
Lows

More quotes by 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.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal and numerical, and communication skills.
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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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Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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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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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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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Whatever you tax you get less of.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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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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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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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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History cannot be reduced to a set of statistics and probabilities.
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We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.
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What an ideology is is a conceptual framework with the way people deal with reality. Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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I'm a better economist than I was a sax player.
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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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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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