Congressman Frank and Senator Dodd wanted the government to push financial institutions to lend to people they would not lend to otherwise, because of the risk of default. ... The idea that politicians can assess risks better than people who have spent their whole careers assessing risks should have been so obviously absurd that no one would take it seriously.

Many people believe in eliminating gaps and eliminating poverty. They don't realize that in some sense those two things are antithetical. If you were to double everyone's income, or if everyone's income were doubled naturally over the course of time, then you would reduce poverty significantly but you would have also increased the gap.

Since the government creates no wealth, it can only transfer the wealth required to hire people. Even if the government creates a million jobs, that is not a net increase in jobs, when the money that pays for those jobs is taken from the private sector, which loses that much ability to create private jobs.

Any politician who starts shouting election-year demagoguery about the rich and the poor should be asked, "What about the other 90 percent of the people?"

When Congress gets through investigating Attorney General Janet Reno, will her agency become known as the Obstruction of Justice Department? The civil rights movement was one of the great moral crusades in the first half of the twentieth century. Unfortunately, in more recent times it has become all too much like those it opposed, demanding racial double standards and even condoning verbal and violent attacks against members of other races.

Sometimes it seems as if there are more solutions than problems. On closer scrutiny, it turns out that many of today's problems are a result of yesterday's solutions.

The dominant orthodoxy in development economics was that Third World countries were trapped in a vicious cycle of poverty that could be broken only by massive foreign aid from the more prosperous industrial nations of the world. This was in keeping with a more general vision on the Left that people were essentially divided into three categories - the heartless, the helpless, and wonderful people like themselves, who would rescue the helpless by playing Lady Bountiful with the taxpayers' money.