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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.

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
Improvement
Improvements
Driven
Lending
Reach
Enabled
Capacity
Capacities
Technology
Borrowing
Information
Previously
Unrecognized
Practice
Practices
Lenders
Household
Households

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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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I'm a better economist than I was a sax player.
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The Iraq War is largely about oil.
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