Greenspan: non-discrimination good for business

US - Federal Reserve Chairman Alan Greenspan said on Thursday that discrimination in lending and other aspects of financial life simply makes for bad business.

"In the end, costs are higher, less real output is produced and national wealth accumulation is slowed," Greenspan said in prepared remarks delivered to an economic development summit in Oakland. A copy of his remarks was released in Washington.

Greenspan's speech did not touch on the outlook for the U.S. economy or monetary policy ahead