Thomas Sowell Quotes About Mortgages

Quotes about: Mortgages

• Bailing out people who made ill-advised mortgages makes no more sense that bailing out people who lost their life savings in Las Vegas casinos.

  Thomas Sowell

  Las Vegas, People, Saving

  "Taxpayers’ Trillion". www.nationalreview.com. September 24, 2008 Read more at: http://www.nationalreview.com/article/225751/taxpayers-trillion-thomas-sowell.

• 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 Sowell

  Wall, Home, Heart

  Thomas Sowell (2011). “Dismantling America and Other Controversial Essays (Large Print 16pt)”, p.42, ReadHowYouWant.com

• Both HUD and the Department of Justice began bringing lawsuits against mortgage bankers when a higher percentage of minority applicants than white applicants were turned down for mortgage loans. A substantial majority of both black and white mortgage loan applicants had their loans approved but a statistical difference was enough to get a bank sued.

  Thomas Sowell

  Black And White, Differences, Justice

  Thomas Sowell (2011). “Dismantling America and Other Controversial Essays (Large Print 16pt)”, p.163, ReadHowYouWant.com

• Riskier mortgage lending practices, imposed by government, were what set the stage for many mortgage payments to stop and thus for the financial disasters that followed. Political rhetoric, echoed in the media, seeks to obscure that painfully plain fact.

  Thomas Sowell

  Government, Media, Practice

• Securities based on risky mortgages are what toppled financial institutions but it was the government that made the mortgages risky in the first place, by making home-ownership statistics the holy grail, for which everything else was to be sacrificed, including commonsense standards for making home loans.

  Thomas Sowell

  Home, Government, Holy Grail

  Thomas Sowell (2011). “Dismantling America and Other Controversial Essays (Large Print 16pt)”, p.44, ReadHowYouWant.com

• 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 Sowell

  Government, Practice, Tunes

  Thomas Sowell (2011). “Dismantling America and Other Controversial Essays (Large Print 16pt)”, p.21, ReadHowYouWant.com

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