Monday, October 06, 2008

The blame-game (2)

We also hear that it is the free market that is to blame. But the facts show that it was the government that pressured financial institutions in general to lend to subprime borrowers, with such things as the Community Reinvestment Act and, later, threats of legal action by then Attorney General Janet Reno if the feds did not like the statistics on who was getting loans and who wasn't.
That's Thomas Sowell

Uh, don't miss Steve Horwitz letter to the leftists.

No comments: