Joe Scarborough Credits Ron Paul for Predicting the Housing Bubble

Ron Paul appearing on the 5/15/09 edition of Morning Joe is credited by Joe Scarborough for accurately predicting the housing bubble and resulting financial crisis.

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  People & Blogs

[MrEmerye]

why wasn't this mention in any debates. Oh yeah, because no one else saw it but Paul... Love you Ron Paul.. you are a God sent. cured my apathy, and gave me hope.

[JuztinBurns]

How does this not have a Million views?!?!?

[JFPriest]

one last chance.. RP 2016

[Adam Gomez]

Wow, Ron Paul's words about the collapse of the dollar was ignored.

[Josh Castro]

Like a boss

[tjtomkins]

Fed created the bubble keeping interest low, lower rates, more people borrow, more inflation is created, with Community Reinvestment Act & such "regulation" this new money was channelled into the housing sector with more & more people houses with the cheap credit; government also had "regulation" to FORCE banks to make bad loans to "prevent racial discrimination"; it was only a matter time that bad loans would turn sour, banks merely tried hedge risk by using derivatives but bubble was too big

[Jared Hansen]

The book "All The Devil's Are Here" (Joe Nocera) explores from primary sources what really led to the housing bubble and financial collapse. Fannie and Freddie were late comers to the CDSs and CDOs that caused the bubble and collapse. Wall St started it all in the 80s. 70% of mortgages were refi's - things Fannie & Freddie cannot even handle. Paul is simply wrong about what caused the problems. He was only right in the inane observation that prices cannot rise forever. Duh.

[hayekian]

Wow... thanks a lot for capturing this... This baby will go viral!!!!