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Rep. Ron Paul (R-Tex.), with a media profile burnished by his presidential campaign, appeared on CNN many times over the weeks of the crisis to explain why the Federal Reserve was to blame. But Paul was lonelier than ever. No other Republican was willing to suggest that avoiding a bailout and risking "a bad year," as he put it, would forestall several more years of economic central planning. They accepted the crisis narrative and attempted to legislate around the margins.
"This does ensure that President Bush will have a legacy...it's a legacy that will set back the concept of economic liberty by a century. The free market, for all intents and purposes, is dead in America."
Ping!
A sad day for sure. But all the Ron Paul haters didn’t hear the words of those of us who kept telling them that if we meltdown economically, there’s no way we can maintain a military presence in Iraq.
I hope they understand that now.
More and more it seems like the Panic was engineered.
Paul looks like a genius now but he wasnt alone, a few brave house republicans in a sea of cowardly whores, made us proud. The republican senate, GWB, + cowardly McCain sold our future to socialism with future endless government takeovers, never in Pelosi+Obamas brightest dreams would they give this gift. Note the argument for GM bailout is similar to Financial.
More like, “Atlas Croaked.”
I agree but, either way - $700 billion or no $700 billion - this country will end up in roughly the same condition. Had Bush not proposed the bailout and had some Republicans not voted for it, the Democrats would have blamed the Republicans for the next 100 years for what is going to happen anyway.
The bailouts will save nothing; they will only delay the inevitable and make it worse. There is no way in hell this situation will remotely resemble the most pessimestic outlook - it will be worse.
yeah, let’s privatize fanny and freddy,
and barney frank, chucky schumer, chris dodd et al
while we’re at it.