Thomas Sowell Quotes:
Ocupation: Economist
Life: b. June 30, 1930
Birthday: June 30
Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.
source: "A Political "Solution": Part II" by Thomas Sowell, www.realclearpolitics.com. September 23, 2008. 
topic: Real, People, Swim, Sink Or Swim, Downturn, Contractions, Financial Institutions, Bailouts
