Quote

Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.

Alan Greenspan

Change background

T
T
T

Change font

TAGS & TOPICS

Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
Household
Households
Improvement
Improvements
Driven
Lending
Reach
Enabled
Capacity
Capacities
Technology
Borrowing
Information
Previously
Unrecognized
Practice
Practices
Lenders

More quotes by Alan Greenspan

Image
History demonstrates that participants in financial markets are susceptible to waves of optimism. Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
Alan Greenspan
Image
Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
Alan Greenspan
Image
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
Alan Greenspan
Image
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
Alan Greenspan
Image
Whatever you tax you get less of.
Alan Greenspan
Image
But rules cannot substitute for character.
Alan Greenspan
Image
Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
Alan Greenspan
Image
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.
Alan Greenspan
Image
How do we know when irrational exuberance has unduly escalated asset values?
Alan Greenspan
Image
We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
Alan Greenspan
Image
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
Image
I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
Alan Greenspan
Image
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
Alan Greenspan
Image
An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.
Alan Greenspan
Image
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
Image
When trust is lost, a nation's ability to transact business is palpably undermined.
Alan Greenspan
Image
Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.
Alan Greenspan
Image
No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
Alan Greenspan
Image
The guiding purpose of the government regulator is to prevent rather than to create something.
Alan Greenspan
Image
Anything that we can do to raise personal savings is very much in the interest of this country.
Alan Greenspan