Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.
Thomas SowellThose government officials who want more power are not going to stop unless they get stopped.
Thomas SowellAs an economist, whenever I hear the word shortage I wait for the other shoe to drop. That other shoe is usually price control.
Thomas Sowell