"Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure. ... The credit crunch and foreclosure problems are failures of government policy." | Quote by: | Walter E. Williams
(1936-2020) Columnist, Professor of Economics at George Mason University |
Source: | Stubborn Ignorance: The Financial Crisis is a Failure of Government Policy by Dr. Walter E. Williams |
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