Monday, October 6, 2008

Beyond Talking Points

"Barney Frank's talking points notwithstanding, mortgage lenders didn't wake up one fine day deciding to junk long-held standards of creditworthiness in order to make ill-advised loans to unqualified borrowers. It would be closer to the truth to say they woke up to find the government twisting their arms and demanding that they do so - or else..."

"Wall Street and private lenders have plenty to answer for, but it was Washington and the political class that derailed this train. If Frank is looking for a culprit to blame, he can find one suspect in the nearest mirror."

Columnist Jeff Jacoby, "Frank's Fingerprints Are All Over The Financial Fiasco," Boston Globe, September 28, 2008.

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