A Quote by Mark Zandi
The biggest culprits in the housing fiasco came from the private sector, and more specifically from a mortgage industry that was out of control.
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The biggest difference between the private sector and public sector is in the private sector, there's a sense of urgency because you have customers and you have competitors. Whereas in government, one of your major objectives is to not make any really big mistakes.
I believe that "government", as we know it today, should pull out of most things except for law enforcement and justice, national defense and foreign policy, and let the private sector, a "Grameenized private sector", a social-consciousness-driven private sector, take over their other functions.
Local authorities face huge housing issues with demands outstripping supply many times over; the only way those in housing need can be housed is in the private sector.
Living standards in both the public and private sector have to be brought down. The private sector has to sell more abroad and consume less at home. The government sector has to get closer to just spending what it can collect in taxes.
When regulations on the housing industry are reasonable, the cost of housing goes down. Regulatory relief is needed to make housing more affordable to more Americans.
The governments are seen to be less effective than they used to be. The private sector is perceived as being so much more efficient, and so globalization implies a transfer of power to the private sector.
In World War II, the government went to the private sector. The government asked the private sector for help in doing things that the government could not do. The private sector complied. That is what I am suggesting.
I spent my whole life in the private sector, 25 years in the private sector. I understand that when government takes more money out of the hands of people, it makes it more difficult for them to buy things. If they can't buy things, the economy doesn't grow. If the economy doesn't grow, we don't put Americans to work.
I can remember the time when, if we wanted a house or housing, we relied on private enterprise. In fact, Americans built more square feet of housing per person than any other country on the face of the earth. Despite that remarkable accomplishment, more and more people are coming to believe that the only way we can have adequate housing is to use government to take the earnings from some and give these earnings, in the form of housing, to others.
The private sector is the innovation engine of our economy, and more private-sector businesses and organizations than ever are recognizing that training, promoting, and retaining women is essential to their continued competitiveness - and their bottom line.
70 to 80 percent of country economy is controlled by the Bolivian state, and the other percentage by the private sector. We admit that it's legal, constitutional, that the private sector is entitled to its own economy, but to ensure these profound changes that clearly this government is promoting, including profound changes in the food industry, what we are doing is an important step.
We need the private sector to succeed, because if the private sector succeeds, America succeeds. Because it's not the government that produces jobs, it's the private sector.
It's just the banks who are the latest target of the American socialist left. There is a war on the entirety of the private sector. It is the private sector that employs most of you, that services most of you, that creates the economic prosperity that our nation has enjoyed - and there is a war on that private sector, and it's being waged from the Oval Office, and its foot soldiers are on Wall Street and in other cities around the country.
Al Gore's problem, in my view, is that he never liked politics. He's actually deeply uncomfortable in it but felt he had to do it because of his father. He's much more comfortable in a private sector role and has, in fact, been much more successful in a private sector role, and I admire him for that.
Private-sector firms are increasingly active in the prison industry and they and the militantly unionized correctional officers, almost all unskilled labor, constantly lead public demands for more criminal statutes and more draconian penalties.
The myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve - really want is for new buyers to be able to borrow enough money to buy the houses from mortgage defaulters, and thus save the banks from suffering from more mortgage defaults.
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