Home > Opinion, Politics > Do Facts Matter? – Thomas Sowell @ Townhall

Do Facts Matter? – Thomas Sowell @ Townhall

Thomas Sowell has written another great piece posted at Townhall.com called Do Facts Matter? It is a piece investigating how this financial crisis had grown into the mess today.

So, in opening this piece, he provides us with a memorable quote from a former president:

Abraham Lincoln said, “You can fool all the people some of the time and some of the people all the time, but you can’t fool all the people all the time.”

Pretty much whatever party or candidate you may support, we tend to think the other person or party is fooling us.  But, here are some of the facts about how this financial crisis escalated provided by Mr Sowell:

Fact Number One: It was liberal Democrats, led by Senator Christopher Dodd and Congressman Barney Frank, who for years– including the present year– denied that Fannie Mae and Freddie Mac were taking big risks that could lead to a financial crisis.

It was Senator Dodd, Congressman Frank and other liberal Democrats who for years refused requests from the Bush administration to set up an agency to regulate Fannie Mae and Freddie Mac.

It was liberal Democrats, again led by Dodd and Frank, who for years pushed for Fannie Mae and Freddie Mac to go even further in promoting subprime mortgage loans, which are at the heart of today’s financial crisis.

Of course, our MSM will not tell us of these facts because it does not serve their template in electing Mr Barack Obama to the Presidency. It is all the GOP, George W Bush, and capitalism fault. But, there appears to be no one willing to report the all the facts of this issue either. The recent passage of the bill does NOT fix the problem, but puts a band-aid on it with possible consequences of more problems for all American later.

Instead of throwing a whole lot of money at it, could we have not taken steps to ease the crisis?  There were some good items in the bill, could we have passed those items without the pork or earmarks?  Answer is NO, because it does not work that way in DC.

So, I would agree with Mr Sowell:

Facts don’t matter much politically if they are not reported.

If you did not read his article on Friday, check out it this weekend

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Categories: Opinion, Politics Tags: ,
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