Greenspan, Alan

Alan Greenspan Testimony to the U S. Senate Committee on Banking, Housing and Urban Affairs, 13. February 2001. 

Alan Greenspan, Head of the Federal Reserve Board... 

Add to this the societal factor that Americans seem to favor new, high-tech things, and you ve got a formula for unrealistic expectations or even, to use Alan Greenspan s famous phrase, irrational exuberance. This can be charted on a new curve that s perhaps every bit as important as the benefit-versus-time S-curve, one of expectations-versus-time. This is shown in Figure 2.10. Dr Murcko explains In the beginning there s a lot of hoopla, a lot... 

We ll get into money and the way you and your business relate to it in more detail in spring, but for the purpose of creating a map, we re talking about an overview, a snapshot of how well greased the mechanics of your business are. This is the part where you consider and plan your income projections and cash flow. This shouldn t become an Alan Greenspan-type document addressing the nation about financial forecasts. Keep it simple and truthful. Money is such a liquid thing that it s hard to try to pin it down sometimes, and it could seem the more you try to get a solid hold—without a couple years experience behind you—the more elusive it becomes. Just try to be as honest with yourself as possible as you project into the future what you already know you can and cannot commit to financially. 

Moreover, an increasing number of manufacturers have direct access to demand information from their customers and resource information from their suppliers. In many cases, the customer s demand information and the supplier s resource information originate in their respective ERP systems. Just as these data are more accurate for the customer/manufacturer/supplier enterprise, so too is the resulting information flowing up and down the supply chain. For the manufacturer between them, this information enables decision makers to base decisions on accurate external information, as well as accurate internal information. The following remarks by Federal Reserve Chairman Alan Greenspan perhaps best capture the essence of this phenomenon (Greenspan 1999) ... 

As the 1998 off-year elections elevated laissez faire minimalist Senator Phil Gramm (R-Texas) to the chairmanship of the Senate Banking Gommittee, the economy was booming and credit was easy. With the strong support of Fed Ghairman Alan Greenspan, Treasury Secretary Robert Rubin, and the... 

Johnson Kwak, 13 Bankers, 206-07, (quoting Paul Volcker), 210-11 (quoting Alan Greenspan) Stiglitz, Freefall, 114. 

---