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Quote by Peter Schiff

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Peter Schiff
Peter Schiff

Peter Schiff is an American author, economist, and financial commentator. He is recognized for his bearish outlook on the U.S. economy and for predicting the 2008 financial crisis. Schiff has written several books on economics and finance, and has been a regular guest on various financial news programs. more

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“No segment of the population has lost more by the agendas of the liberal constituencies of the Democratic Party than the black population. The teachers' unions, environmental fanatics and the ACLU are just some of the groups to whose interests blacks have been sacrificed wholesale. Lousy education and high crime rates in the ghettos, and unaffordable housing elsewhere with building restrictions, are devastating prices to pay for liberalism.”

“Securities based on risky mortgages are what toppled financial institutions but it was the government that made the mortgages risky in the first place, by making home-ownership statistics the holy grail, for which everything else was to be sacrificed, including commonsense standards for making home loans.”

“No one pushed harder than Congressman Barney Frank to force banks and other financial institutions to reduce their mortgage lending standards, in order to meet government-set goals for more home ownership. Those lower mortgage lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages.”

“It is precisely those members of Congress who have had the most to do with creating the risks that led to the current economic crisis who are making the most noise against others, and summoning people before their committee to be browbeaten and humiliated on nationwide television.”