The rapid growth and increasing importance of derivative instruments in the risk profile of many large banks has been a particular concern,
More Quotes from Alan Greenspan:
The complexity of our economy is such, and the way liquidity flows through the system is such, that you essentially get very complex differences in the way monetary policy plays out, ... But, at the end of the day, it does seem to be effective.Alan Greenspan
If I seem unduly clear to you, you must have misunderstood what I said.
Alan Greenspan
There are powerful reasons to suspect that the elimination of the double taxation of dividends and cuts in marginal tax rates will elevate long-term productivity, ... If, however, in the process we get a significant increase in deficits, which induce a rise in long-term interest rates, that will be a significant undercutting of the benefits achieved by tax cuts.
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Lowering the deficit further in the near term, however, will be difficult in light of the need to pay for post-hurricane reconstruction and relief,
Alan Greenspan
We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.
Alan Greenspan
The housing boom will inevitably simmer down, ... As part of that process, house turnover will decline from currently historic levels, while home price increases will slow and prices could even decrease.
Alan Greenspan
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