Think tanks
Cry Wolf Quotes
The CRA, by encouraging loosening underwriting standards, may have contributed to the massive increase in foreclosure rates.
The important question, however, is not the default rates on the mortgages made under the CRA. Whatever those rates might be, they were not sufficient to cause a worldwide financial crisis. Once these standards were relaxed--particularly allowing loan-to-value ratios higher than the 80 percent that had previously been the norm--they spread rapidly to the prime market and to subprime markets where loans were made by lenders other than insured banks.
Mandatory recycling creates waste and destroys wealth without solving any "problems." It is the equivalent of Soviet planning: the state first micromanages an economic activity and then builds an elaborate system of controls and subsidies to sustain it. Resources are wasted to generate recyclables, and then resources are wasted to encourage their use.
If a murderer kills you, it’s homicide. If a drunk driver kills you, it’s manslaughter. If the FDA kills you, it’s just being cautious…Our own federal government’s bureaucratic and apparently unaccountable Food and Drug Administration [blocked drug approvals while Americans] died in agony from a disease other nations controlled for years.
