Ron Paul on Mortgage Bailout & Financial Armageddon

August 10, 2007. Ron Paul tells CNBC's Larry Kudlow how he would handle the credit crisis.

- Larry Kudlow: Let me just ask you, talking about Armageddon, are you an economic pessimist about the future of America (Larry's sick of all the economic pessimism)?

- Ron Paul: No, I'm an optimist if we did the right things, if we restrained the FED from creating money out of thin air and causing all the malinvestment and encouraging Big Government spending, see we can't have the spending if we don't have the FED to bail the politicians out by monetizing the debt.

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"History told me that the urgency to acquire power is inherent in the State, any State. The American State had been held in leash by its peculiar Constitution, adopted at a time when the people were conscious of this urgency and were intent to hold it within bounds. They were particularly aware of the fact that the power of the State is in proportion to its income, and made sure that the State would not go hog-wild by limiting its power to tax. But, within a century new peoples with new ideas came upon the scene and this limitation was removed."
(-Out of Step- by Frank Chodorov)

Category:

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• Kudlow
• Candidate
• Elections
• Wealth

[SandiDinsdale]

In truth Dr Paul is the only candidate that actually thinks & speaks for himself you can see him formulate his answrs from his deep knowledge of intl history & commerce on the spot vs bush's gloating idiotic bobble headed doll responses or hillary's written candor & cackle. The truth shall set us free. Ron Paul & Dennis Kucinich really should team up. they can't kill us all...

[moonsouljah]

This could not be sweeter. Totally Righteous. I'm an average American and Ron Paul has shattered my INDOCTRINATED way of thinking. The idea of real FREEDOM makes me feel scurred at times but then I see fake speed boat propaganda and get real scurred.

[spectrum2000now]

Bail out? Hope this issue will resolve immediately so people in America can live with harmony again. People also must responsible enough for finances.

[tickyul]

Ameritards cannot even take responsibility for their own financial mistakes, Big Brother will come in and save them. You buy a house that puts a big strain on your monthly budget, then, you go out and buy a bunch of junk with a credit card, then, you get a heloc so you can go out and buy more junk. Why has this society lost all discipline, because they can rely on Big Brother to bail them out.

[tickyul]

Bailouts are a really bad idea.

[mannyfeseha]

thehelpfund.blogspot

[StephenCataldo]

* CRA didn't force people to lie -- just the opposite, it made it easier to get a loan while having a smaller income while being honest.

* No one forced investors to buy mortgage backed securities. Government regulation isn't the cause of the real fault-line. The securities created the incentive to lie.

* Many companies made choices about how much to get into or out of these markets.

Again, it seems facts and ideology have crashed. Give a specific example pls.

[StephenCataldo]

Can one of the Fannie & Freddie caused it folks please explain why derivatives were being purchased by capitalists? It makes no sense at all to blame this on the CRA if capitalists under no government pressure or guarantees were purchasing bundled packs of these mortgages. Please explain what I'm missing in more specific terms: CRA did what to the derivatives market?

[RiotGrrrlLogic]

THe collapse of the United States has been purposely orchestrated by the Federal Reserve and the other elitist entities that are the true power. The president is not the power. He is merely the puppet for the elitist to do their bidding. That's why Obama isn't going to save us either. The Federal Reserve has the ability play the strings of the economy like a violin and they are doing exactly that.