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 way the [welfare] programs are organized, poor people are only paid to do things that are counter-productive - such as breaking up their families, such as not earning above a certain level of income.
Thomas SowellIf politicians were serious about day care for children, instead of just sloganizing about it, nothing they could do would improve the quality of child care more than by lifting the heavy burden of taxation that forces so many families to have both parents working.
Thomas SowellThe curse of the intelligentsia is their ability to rationalize and re-define. Ordinary people, lacking that gift, are forced to face reality.
Thomas SowellLiberals have been driven to the desperate expedient of attributing . . .social pathology in today's ghettos to 'a legacy of slavery' even though black children grew up with two parents more often under slavery than today.
Thomas SowellA recently reprinted memoir by Frederick Douglass has footnotes explaining what words like 'arraigned,' 'curried' and 'exculpate' meant, and explaining who Job was. In other words, this man who was born a slave and never went to school educated himself to the point where his words now have to be explained to today's expensively under-educated generation.
Thomas Sowell