After the risky mortgage-lending practices fostered by government intervention led to massive defaults and foreclosures that caused financial institutions to collapse or be bailed out, Congressman Frank changed his tune completely.
Thomas SowellLife has many good things. The problem is that most of these good things can be gotten only by sacrificing other good things. We all recognize this in our daily lives. It is only in politics that this simple, common sense fact is routinely ignored.
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 SowellOne of the most basic and pervasive social processes is the sorting and labeling of things, activities, and people... Sorting and labeling processes involve a trade-off of costs and benefits. In general, the more finely the sorting is done, the greater the benefits - and the costs... Sorting and labeling, whether of people or of things, is a sorting and labeling of probabilities rather than of certainties.
Thomas Sowell