Because it is a highly leveraged operation and one which requires very sophisticated hedging of interest rate risk, it's imparting a significant potential systemic risk to the American financial system,
More Quotes from Alan Greenspan:
Today, economic value is best symbolized by exceedingly complex, miniaturized integrated circuits and the ideas -- the software -- that utilize them, ... Most of what we currently perceive as value and wealth is intellectual and impalpable.Alan Greenspan
There are sound reasons for concluding that the long-run picture remains bright ... but I would emphasize that we continue to face significant risks in the near term,
Alan Greenspan
The president and I have not discussed this, but I greatly appreciate his confidence, ... I have been privileged to be appointed by five presidents to various positions. If President Bush nominates me, and the Senate confirms his choice, I would have every intention of serving.
Alan Greenspan
Concentration and other risks in holding dollar balances seem to have become a consideration at least for some investors,
Alan Greenspan
Over most of the past several years, the behavior of unit labor costs has been quite subdued, ... But those costs have turned up of late, and whether the favorable trends of the past few years will be maintained is unclear.
Alan Greenspan
fully appreciate the risk that some households may have trouble meeting monthly payments as interest rates and the macroeconomic climate change.
Alan Greenspan
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