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

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I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.
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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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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.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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The need for values is inbred. Their content is not.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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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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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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Whatever you tax you get less of.
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Amateurs want to be right. Professionals want to make money.
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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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Indeed, better risk management may be the only truly necessary element of success in banking.
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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But rules cannot substitute for character.
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When trust is lost, a nation's ability to transact business is palpably undermined.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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