One third of the $15 trillion of mortgages in existence in 2008 are owned, or securitized by Fannie Mae, Freddie Mac, Ginnie Mae, the Federal Housing and the Veterans Administration. Wall Street buyers of repackaged loans didn't mind buying risky paper because they assumed that they would be guaranteed by the federal government: read bailout from the taxpayers. Today's housing mess can be laid directly at the feet of Congress and the White House.
Walter E. WilliamsThou shalt not steal unless thou hast a majority vote in Congress.... I'm healthy; subsidized prescription drugs won't do me much good. I'd be willing to forego my prescription drugs if Congress would force some young American to mow my lawn.
Walter E. WilliamsAs American education and intelligence becomes replaced by feelings and emotion, not seeing the forest for the trees has become a major problem.
Walter E. WilliamsAccording to the Institute for International Economics, trade barriers cost American consumers $80 billion a year or more than $1,200 per family.
Walter E. Williams