No one pushed harder than Congressman Barney Frank to force banks and other financial institutions to reduce their mortgage lending standards, in order to meet government-set goals for more home ownership. Those lower mortgage lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages.
Thomas SowellPeople who have never run even a modest little business assert with great certainty and indignation that heads of multinational corporations are paid much more than they are worth. People who know nothing about medicine and nothing about economics unhesi.
Thomas SowellMore frightening to me than any policy or politician is the ease with which the public is played for fools with words. The latest example is the 'Employee Freedom of Choice Act,' a bill that will do away with secret ballot elections among workers voting on whether to be represented by a union. It is an open invitation to intimidation - which is to say, loss of freedom of choice.
Thomas SowellWhat sense would it make to classify a man as handicapped because he is in a wheelchair today, if he is expected to be walking again in a month, and competing in track meets before the year is out? Yet Americans are generally given 'class' labels on the basis of their transient location in the income stream. If most Americans do not stay in the same broad income bracket for even a decade, their repeatedly changing 'class' makes class itself a nebulous concept. Yet the intelligentsia are habituated, if not addicted, to seeing the world in class terms.
Thomas SowellIt’s amazing how much panic one honest man can spread among a multitude of hypocrites.
Thomas SowellIn its pursuit of justice for a segment of society, in disregard of the consequences for society as a whole, what is called 'social justice' might more accurately be called anti-social justice, since what consistently gets ignored or dismissed are precisely the costs to society. Such a conception of justice seeks to correct, not only biased or discriminatory acts by individuals or by social institutions, but unmerited disadvantages in general, from whatever source they may arise.
Thomas SowellDeep thinkers who look everywhere for the mysterious causes of poverty, ignorance, crime and war need look no further than their own mirrors. We are all born into this world poor and ignorant, and with thoroughly selfish and barbaric impulses. Those of us who turn out any other way do so largely through the efforts of others, who civilized us before we got big enough to do too much damage to the world or ourselves.
Thomas Sowell