>He then shows data that the anti discrimination legislation increased black default rates and questions whether you encouraging minorities to declare bankruptcy and enter financial ruin is really something to be desired.
Stop the Sowell worship. Please, internet, for the love of god. He will always talk about how everything that democrats do is bad and everything conservatives do is good. He isn't right on everything all the time.
It's actually an extremely common argument that conservatives make to this day. Thomas Sowell blamed the CRA himself, so I'm not sure what your point is.
>>He then shows data that the anti discrimination legislation increased black default rates and questions whether you encouraging minorities to declare bankruptcy and enter financial ruin is really something to be desired.
He brought up anti discrimination legislation causing defaulting and bankruptcy, which the 2008 crash literally caused. I brought up a specific example of how Sowell is wrong. Sowell has directly commented on this matter. It is obviously relevant and doesn't require me to explain any further.
>He brought up anti discrimination legislation causing defaulting and bankruptcy, which the 2008 crash literally caused.
No he didn't, what are you talking about? Just because he mentioned foreclosures means he meant the CRA caused the 2008 housing crisis? No one was talking about it, you just brought it up out of no where.
His statement had NOTHING to do with the housing crisis, the only link between them seems to be "both involve foreclosures, so if I prove CRA did not cause the crisis I will prove his other statement is also incorrect... Because they both have the word 'foreclose' in them"
The OP brought up that Sowell said that anti discrimination legislation increased defaulting and bankruptcy. Thomas Sowell literally wrote an entire article blaming CRA about 10 years ago. I brought up how Sowell is wrong because studies show that he is wrong.
So even though you quoted one argument, you posted a document to prove a whole other argument wrong, never bothering to bring up that the other argument you just proved wrong. I still don't know what other argument you proved wrong, did Sowell go on record saying the CRA caused the 2008 housing crisis?
Yes, as I said he literally wrote an article about it. I literally cannot understand how you can't connect Sowell's claim that anti-discrimination legislation (like CRA) is bad to my argument.
Can you post a link? I'm honestly under the suspicious you just posted a PDF you did not read, or knowingly knew did not back up your arguments but hoped no one would read the 25 pages to find out.
Damn, guess I was wrong. Still nothing to do with the parents argument though, you should at edit your comment to include that link so people understand what you're taking about.
Nah, you switched arguments mid stream without any reason or warning, besides that the crisis argument was easier to prove wrong than the parent's. CRA was introduced 43 years ago, the 2008 crisis was 12 years ago, there is no reason to link them today.
My entire point the whole way through was about Sowell being wrong about the CRA, and it literally doesn't matter when it was introduced. It was an example of anti discrimination legislation regarding loans that Sowell has directly commented on, what other example should I use?
Parent's argument can still be correct even though the CRA did not cause the housing crisis.
Those are unrelated. The first argument might be correct and the CRA increases defaults by giving loans to people who can't afford them, and still there was a regulatory failure with firms rubber stamping bad debts as AAA and packaging them up in 2008.
> Stop the Sowell worship. Please, internet, for the love of god. He will always talk about how everything that democrats do is bad and everything conservatives do is good. He isn't right on everything all the time.
Stop the bad-faith discussion. I never 'worshipped' Sowell. The commenter above claimed that Sowell has not grappled with various studies that show various racial disparities. I've read his works, and Sowell indeed does directly confront these studies, so to say he is ignoring evidence is wrong.
Whether or not Sowell is right is not really up for discussion. What was being discussed is whether Sowell acknowledges studies on topics he is interested in. Indeed he does, and he finds issues in many studies as well as other studies that have remained mostly unacknowledged by academia.
> He isn't right on everything all the time.
This is a ridiculous standard to judge anyone by. No one is right all the time. Stop changing the goalposts.
Sowell talked about the CRA and was proven wrong by multiple studies, like this one, which has a section dedicated to how the CRA wasn't a problem: https://www.responsiblelending.org/mortgage-lending/research...
Stop the Sowell worship. Please, internet, for the love of god. He will always talk about how everything that democrats do is bad and everything conservatives do is good. He isn't right on everything all the time.