THE BAILOUT: Rep. Ron Paul - Bailout Bill Will Make Things Much Worse

9.29.08 debate & vote by the House of Representatives defeating the Financial Bailout bill.

Category:

News & Politics

Tags:

• bailout
• wall
• street
• aig
• lehman
• paulson
• bernanke
• ron
• paul

[wakenjake420]

we should have listened to this guy during the debates,,but people will buy a dream rather than substance

[GQPROPHET]

Ron Paul SHOULDVE been the new Presidential Elect .... A shame he didnt get the votes .

[shenglonglin]

i just fucked a hooker in her ass and she paid me the money.

[skaterkid445566]

I've never seen the guy so worked up, LOL

[skunkworks226]

i just realized that ron paul's angry face is very scary

[bschou]

@sfjeff1089 No. The problem is the federal reserve. It sets interest rates at levels WAY too low. This causes the MASSIVE malinvestment and opens up the door for the bad behavior. The Fed creating inflationary credit IS the ROOT CAUSE. The banks also do this risky behaviour because if the loans fail and the investment is bad the banks can just ask The Fed for a free handout. As long as the Federal reserve can cause mischief the big banks will contniue to profit at everyone else' expense.

[bschou]

@thetvuser666 No, no the reason this happened is the Federal Reserve and it's artificial setting of interest rates at WAY too low a level. The banks would not have made the kinds of loans they did without the Fed interfering in the market. We need the regulation ON THE FED. Don't allow them to monetize debt or set interest rates extremely

[sfjeff1089]

@xMaXiMuSx - By the way, you could almost draw a correlation between inflation and making risky asset bets, but it is asset inflation, a completely different type. Asset Inflation is actually based on Assets going up in "Value" not as a side effect of money supply growth, but rather based on regressive policies that try to spur growth, but instead create bubbles. Middle class savings shrink as money pools with the rich even as large scale risky financial maneuvers become more common.

[sfjeff1089]

@xMaXiMuSx - oops. Overpost. In any case, whether we should let banks get too big to fail and what happens when they get that way are two completely separate issues. Stiglitz and Warren Buffet both were talking about this 10 years ago, but both have the "let's find a solution first" mentality now. Ron Paul draws up an imaginary relationship between inflation and making risky bank bets and proposes making the banks pay no matter what innocents get hurt.

[sfjeff1089]

@xMaXiMuSx - Maybe you are right (sort of), I am sure that he believes that rewarding bad behavior is a recipe for disaster, but Stiglitz made that point much more concisely during his discussion of the perils of Deregulation way before this happened. This video talks about *over* regulation and continues his quixotic chasing at the windmill of inflation when the problems are *under* regulation and the disappearance of the middle class.

I am not sure whether the big banks were