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"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."
Walter E. Williams (more quotes by Walter E. Williams or books by/about Walter E. Williams)
(1936-2020) Columnist, Professor of Economics at George Mason University
Stubborn Ignorance: The Financial Crisis is a Failure of Government Policy by Dr. Walter E. Williams
Debt, Economics, Government, Tax