Thomas Frank Wrong Again

Anti-capitalist zealot Thomas Frank’s latest column in the Wall Street Journal is pure drivel.

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He dishonestly blames the current financial instability on laissez-faire capitalism. The problem is America doesn’t have laissez-faire and never has. Frank is too intelligent and learned not to know this basic fact. Frank also glibly dismisses criticism of the awful Community Reinvestment Act, which isn’t wholly to blame for current problems but which certainly played a significant role in the present downturn. Lies, lies, and more lies calculated to put more pressure on policymakers to make government even bigger.