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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that's likely to change for the better.
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
Comes
Findings
Lag
Change
Finding
Firms
Better
Credit
Afford
Need
Number
Extent
Needs
Numbers
Turning
Economy
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Small
Likely
Difficult
Price
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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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Productivity is notoriously difficult to predict.
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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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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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Rules cannot take the place of character.
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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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Greenspan, who knew so much more than most, knew far less than most supposed.
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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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