In the debate between those who believe in essentially unregulated markets and others who hold that reasonable regulation diminishes market excesses without inhibiting their basic function, the subprime situation unfortunately provides ammunition for the latter view.

Before this learning experience, I had assumed that with regard to programs that sought to help people out of poverty, the political world was essentially divided into two camps: conservatives who opposed these for a variety of reasons, and liberals who supported them.

Increasing inequality in income distribution in this country has broader policy implications, and there is also the growing problem of perverse incentives that result from executives receiving grossly disproportionate compensation based on decisions they themselves take.

There's only one thing you can do in bankruptcy: break your word, break your deals. It allows you to say to the small businesses, who have been catering lunches for you, 'Sorry, we're not paying you.' It allows you to go to the workers and say, 'Sorry, we're not paying you.'

But when others suggested that the poor should not simply be the objects of these programs but also the subjects - that they should be actively involved in shaping the programs, making decisions about how to spend the money etc. - some of the previous supporters reconsidered.

They have to convert our agenda into something aggressive. Two guys wanting to be happy together are invading their marriages. Helping a kid who's getting beaten up in school is promoting homosexuality. If you gave me a million dollars, I wouldn't know how to promote homosexuality.

Ronald Reagan got a lot of democrats. I wish he hadn`t. I got to Congress with Reagan coming to the Whitehouse. The Reagan Program, a very radical one, a very drastic one passed because he had a lot of democrats. He worked at it personally and also because Reagan retained a popularity.

Regarding homophobia in general, the good news is that there is a lot less of it than there used to be. The bad news is that it ever existed in the first place, and the worse news is that it remains far stronger than is healthy for a society dedicated in theory to equality under the law.

Alec Baldwin has done this great Donald Trump. I wish somebody would hire Leslie Jordan to play Jeff Sessions. The only way is to put the two of them out there. it is the most bizarre, pathetic silliness I can imagine at what should be the most serious deliberations in the American government.

I was still closeted, but from the day I decided to run for office, knowing that I was gay, I decided that I would, of course, still be closeted but that I would work very hard for gay rights. It would be totally dishonorable, being gay, not to do that. So I had that as kind of a secondary agenda.

The people who started the American government, the founders of the Constitution, didn't like political parties but they were forced to start them. Nobody ever created political parties in England, they evolved. And there do tend to be two general tendencies that focus around how much government you think you need.

There are no moderate Republicans left, with the exception of a few who would vote with us when it doesn’t make any difference,” Frank said. “It’s the most rigid ideological party since before the Civil War. … The bumper sticker I’m going to have printed up for Democrats this year is, ‘We’re not perfect, but they’re nuts.’

In the West everybody recognizes the need for a private sector, pretty much, even the one Socialist group understands this now, and so there tends to be debate about how much public sector intervention you think is needed for a variety of reasons, and there are very important differences on party lines that should be fought out.

What would be the nicest thing I could say about Newt Gingrich? He may be one of the great supporters of the humanities, because you have people who don't want to study the social sciences, because it's not profitable, and now Newt, as the highest-paid historian in American history, may be an encouragement to people to study history.

Particularly marijuana, I think is a great hypocrisy. I think frankly it contributes to a good deal of the sense of unfairness you have among younger people who are told they shouldn't do this because it’s got all these negative effects, but then older people are engaging in all kinds of things that probably have a greater impact on people.

One of the striking things and Donald Trump is right, he gets no Democratic votes. It`s interesting there were Democrats from states some of them more conservative states that voted him, Indiana, Missouri, West Virginia, Montana, North Dakota. They`re not afraid of Donald Trump those Democratic Senators because they know more than he knows and know what the people want.

If you care deeply about a cause and you are then engaged on behalf of that cause in an activity that makes you feel very good and very brave and you're really in solidarity with all your friends, and you're enjoying it, you're probably not advancing the cause very much, because you're spending all your time with people you agree with cheering each other on and not engaging.

The most active people in the country know different things, and because each one tends to hear mostly and deal mostly with people with whom they agree, they are reinforced not simply in the conviction that they are right, which is totally appropriate, but that they are the majority. So you have both sides, the Left and the Right, thinking that the majority of the country is really with them.

There is parallels these two great men John McCain and Ted Kennedy of great impact in the Senate, you don`t agree with everything they did but certainly they had major impacts as senators. Their one major political failure not to be elected president but that didn`t stop them from having enormous impact and at roughly the same age, exactly the same disease. It`s kind of a poignant sad parallel.

Can I say one other thing that`s very important? I`m indebted to Donald Trump for a long time, we`ve had this problem that people disliked government. And the health care bill has shown reminded people and Donald Trump has shown people there is something a lot worse than government. It`s not government. That as bad as they might have thought the government was on health care, it`s now created people that the absence of government healthcare is even worse.

We were giving advice for the single-worst idea to come forward from a group that's been rife with them, it would be this: The idea is this: Let's make the tax code of America better for very rich people; let's give substantial tax relief to the richest people we can find. Forget about the person making $40,000 a year and paying Social Security payroll tax. Forget about all those other people paying income tax; we're here to give tax relief to the richest 2% of America.

You know, when I was in college, there was a big debate: Do unions raise wages? Well, with regard to industrial unions, there were arguments back and forth -- international competition. It is now clear, I think, that whether or not you think unions raised wages 50 years ago, the absence of unions and their weakness that is inflicted by anti-union public policy depresses wages. The fact is that people who are not represented, in the service industries in particular, are the victims of policies which depress their wages.

I do have things I would like to see adopted on behalf of gay, lesbian, bisexual and transgender people: they include the right to marry the individual of our choice; the right to serve in the military to defend our country; and the right to a job based solely on our own qualifications. I acknowledge that this is an agenda, but I do not think that any self-respecting radical in history would have considered advocating people's rights to get married, join the army, and earn a living as a terribly inspiring revolutionary platform.

Trying to avert foreclosures, once you can't just force the banks to do it as a condition of getting aid, means that you have to put some public money into it or you have to do other things that are politically unpopular. From the macroeconomic standpoint there is overwhelming need to help people reduce what they owe so that we don't get the foreclosures and we don't get people kicked out of their homes. On the other hand, there is great resistance politically to helping people, not all of whom would be worth recipients of the help.

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