Securities based on risky mortgages are what toppled financial institutions but it was the government that made the mortgages risky in the first place, by making home-ownership statistics the holy grail, for which everything else was to be sacrificed, including commonsense standards for making home loans.
Thomas SowellYou will never understand bureaucracies until you understand that for bureaucrats procedure is everything and outcomes are nothing.
Thomas SowellAgainst the background of the Obama administration' s negotiating what can turn out to be the most catastrophic international agreement in the nation's history, to complain about protocol is to put questions of etiquette above questions of annihilation.
Thomas SowellThe idea that money is corrupting innocent politicians would be laughable if it did not lead to such dangerous legislation.
Thomas SowellGroups that rose from poverty to prosperity seldom did so by having their own racial or ethnic leaders to follow.
Thomas Sowell