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 SowellThe income tax has spawned an intrusive bureaucracy, creating so much complexity and red tape that millions of ordinary citizens have to go get some accountant to fill out the forms for them - and then sign under penalty of perjury that it was done right. If you knew how to do it right, you wouldn't have to go to somebody else to have it done, would you?
Thomas SowellGovernment restrictions are attractive to people who want to impose their pet notions without having to count the costs.
Thomas SowellWe seem to be getting closer and closer to a situation where nobody is responsible for what they did but we are all responsible for what somebody else did.
Thomas Sowell