{"id":739,"date":"2008-09-24T12:32:17","date_gmt":"2008-09-24T16:32:17","guid":{"rendered":"http:\/\/stonescryout.org\/?p=739"},"modified":"2008-09-24T10:58:03","modified_gmt":"2008-09-24T14:58:03","slug":"various-quotes-on-the-current-financial-crisis","status":"publish","type":"post","link":"https:\/\/stonescryout.org\/?p=739","title":{"rendered":"Various Quotes on the Current Financial Crisis"},"content":{"rendered":"

From the Patriot Post<\/a>, a compendium of quotes regarding the current credit & mortgage crisis, and the bailout being debated.  Quite a number of different takes on it, looking at it from different aspects.  <\/p>\n

(By the way, the Patriot Post can come to your inbox 3 times a week.  It’s a good read.)<\/p>\n

\u201cFinancial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.\u201d \u2014Thomas Sowell <\/p>\n

\u201cThe credit crunch and foreclosure problems are failures of government policy. In fact, what we see now is a market correction to foolhardy government policy. Congress\u2019 move to bail out lenders and borrowers who made poor decisions will simply create incentives for people to make unwise decisions in the future.\u201d \u2014Walter Williams <\/p>\n

\u201c[A]s lawmakers debate buying up hundreds of billions in assets, they should realize that the government\u2019s aggressive meddling in financial decision-making is what got our economy into this mess in the first place. The long-term answer isn\u2019t more federal control, it\u2019s a return to free-market principles.\u201d \u2014Ed Feulner <\/p>\n

\u201cCrisis is the friend of the State. The politicians are desperate to be seen as \u2018showing leadership,\u2019 so we\u2019re surely in for a new round of government interventions.\u201d \u2014John Stossel <\/p>\n

\u201cWhen the Forbidden Fruit was handed to Adam and Eve, they were allowed the moral choice to accept or decline. I know people who have refused to feast on the money tree. They live simply, within their means, and seem far more content than those who are trying to horde their wealth while clinging to the ladder of \u2018success,\u2019 terrified to let go. That isn\u2019t real living. The Puritans rightly saw that as covetousness.\u201d \u2014Cal Thomas <\/p>\n","protected":false},"excerpt":{"rendered":"

From the Patriot Post, a compendium of quotes regarding the current credit & mortgage crisis, and the bailout being debated.  Quite a number of different takes on it, looking at it from different aspects.  (By the way, the Patriot Post can come to your inbox 3 times a week.  It’s a good read.) \u201cFinancial institutions […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,15,18,68],"tags":[],"class_list":["post-739","post","type-post","status-publish","format-standard","hentry","category-doug","category-economics-taxes","category-government","category-quotes"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t