Say what you will about Ron Paul, but give him credit for this: he talks about important issues that almost no one else does. Given his status as one of the biggest critics of the burgeoning national debt, I've been waiting anxiously for his reaction to the $700 billion debt-funded bailout of the financial industry.
PressTV has some quotes from Mr. Paul. The Congressman from Texas called it a "mistake" because we "don't have the money." He added that, "We could change our foreign policy. We could take care of our people at home. We could lower taxes . . . the worst thing that we can do is perpetuate the bad policies that gave us this trouble in the first place."
That echoes one of the most important concerns expressed by critics of the bailout: moral hazard.
Paul handed Federal Reserve Chairman Ben Bernanke a dressing down for the ages today -- look for it on YouTube soon. In the meantime, check out these classic videos from Paul's battle against irresponsible fiscal policy.
Last updated: February 12, 2012: 09:30 PM
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Reader Comments (Page 1 of 1)
9-24-2008 @ 3:22PM
liberator said...
the GUYS have had their chance, now let Sarah and Hillary straighten out their mess! ; )
9-24-2008 @ 3:25PM
rmcclellan7 said...
I guarantee if the bailout passes, Goldman Sachs will sell their crap to the government and then turn around and buy it back for pennies on the dollar and make a fortune. Don't forget Paulson is a former head of Goldman and he is looking out for their interest.
9-26-2008 @ 1:39AM
Dixon Cannon said...
Don't be so utterly rediculous; as if gender or sex has anything at all to do with it. It's about principles and Constitutionality, whether espoused by male or female. How about Nancy Lord or
Dr. Mary Ruwart if gender is the issue. Ever bothered to read up on their position? http://votemary2008.com/
9-24-2008 @ 3:45PM
Tom said...
Let's clean house! Get rid of the Republicans!!
9-24-2008 @ 6:43PM
JD said...
It is too bad the American people did not elect Ron Paul for the Republican ticket. He embodies what Republicans used to be 40 years ago: Conservative. Today's NeoConmen have turned the party into "conservative liberals", favoring social conservatism while maintaining liberal fiscal policies (the opposite of the old Rockefeller Republicans and Ron Paul). What a bad combination.
I know the reason Ron Paul is not the nominee: Most Americans are just plain STUPID! They listen to sound bytes and "soaring oratory" or they identify with the race of the candidates. Yeah, those are great reasons to elect someone.
9-25-2008 @ 9:09AM
beachpaul said...
With this bailout, "moral hazard" becomes an oxymoron. Is this why there are so many drugstores?
9-25-2008 @ 7:25AM
willard said...
elect ron paul if you want to get back your say in government WE NEED A THIRD PARTY TO SHOW THAT WE WANT OUR GOVERNMENT BACK AND TO GET RID OF ALL THE CROOKES WE HAVE PUT IN A PLACE OF TRUST
9-25-2008 @ 1:02AM
Daisy said...
JD: absolutely agree!
Lot of Republicans have become social conservatives and fiscal liberals. Bad combo. I think Bush was the only Republican to run for President that never promised to reduce government. It's wise to cut taxes, but you have to also reduce the obese government.
If McCain wins, I hope he would stick to his promise of cutting pork and reducing government. If Obama wins...well there is NO hope of reducing government.
Thank you Ron Paul -- for being a real Republican. No handouts/bailouts!
And if anyone is interested...please consider opposing the $850 billion Global Poverty Act. We got enough problems to take care here.
:-)
9-25-2008 @ 1:16AM
Daisy said...
One more comment on bailout:
People who couldn't afford houses should have never been allowed to buy these houses in the first place.
Bill Clinton more than encouraged banks to offer loans to those who otherwise couldn't afford it (see CRA under Clinton). And AMTPA - 1982 should have never happened either. Obama's ACORN needs to be under investigation too.
Absolutely no bailouts by taxpayers for anybody!
9-25-2008 @ 9:48AM
greg cottrell said...
All elected officials should be required to pass a course in Austrian economics before being allowed to make monetary policy. Then they would understand why the FED has to go.