American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage. - Alan Greenspan

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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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About Alan Greenspan

Alan Greenspan (born March 6, 1926) is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006 after the second-longest tenure in the position.

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The Bureau of Labor Statistics estimated that bar code scanners at checkout counters increased the speed that cashiers could ring up payments by 30 percent and reduced labor requirements of cashiers and baggers by 10 to 15 percent.

The Federal Reserve is an independent agency. And that means basically that there is no other agency of government which can overrule actions that we take. So long as that is in place, and there is no evidence that the administration, or congress, or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don't frankly matter. And I've had very good relationships with presidents.

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John Jacob Astor succeeded in amassing America’s biggest fortune by trading in the furs of beavers, otters, muskrats, and bears (though he wisely used some of the money he made from hunting in America’s great wilderness to buy real estate in Manhattan).

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