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Category Archives: Thomas Sowell
Tom Sowell’s Farewell Column
An excerpt: With all the advances of blacks over the years, nothing so brought home to me the social degeneration in black ghettos like a visit to a Harlem high school some years ago. When I looked out the window … Continue reading
Posted in Thomas Sowell
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The Housing Boom and Bust: Revised Edition by Thomas Sowell
Get the book here. People charged higher interest rates than average also have higher rates of payments, defaults and foreclosures. The market has accurately assessed the risks. (Pg. 6) From Pg. 16-17: While housing payments often made up more than … Continue reading
Posted in Economics, Real Estate, Thomas Sowell
Tagged boom and bust, conventional mortgages, lower mortgage, mortgage loan applicants, mortgage loan requirements, subprime mortgages
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Thomas Sowell On Dennis Prager’s Radio Show Today
Dennis Prager: “What role did Wall Street play in producing the current recession?” Sowell: “They played the role of suckers who bought mortgages that weren’t worth what they paid for them. “A system had been set up whereby the government … Continue reading
Posted in Dennis Prager, Thomas Sowell
Tagged Dennis Prager, financial institutions, house of cards, subprime loans, Thomas Sowell, wall street journal
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What Caused Our Recession?
On Dennis Prager’s radio show today, economist Tom Sowell said: “What got us into this was that mortgages started to default and there was a whole domino effect going through the whole financial system because people had bought these mortgage-backed … Continue reading
Posted in Dennis Prager, Race, Thomas Sowell
Tagged chris dodd, Dennis Prager, fannie mae and freddie mac, fha loans, mortgage backed securities, tom sowell
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