Comments on: Ron Paul on the Financial Crisis

By: Brendan

Brendan — Sat, 18 Oct 2008 19:56:25 +0000

While the CRA played a role in the current fiasco, the real culprit is a lack of openness and transparency, and phenomenally (and, likely, criminally) irresponsible lending institutions, investment banks, and insurance providers. This short (and rather humorous) slide show on Google Docs says it all, IMO:

Subprime Primer

Additionally, while I agree that truly free market economies are capable of regulating themselves, we don’t have (and NEVER will have) a “truly free” market economy. The key to making a truly free market economy work is to get all world players to adhere to the same rules. For instance, did you realize that S. Korea export 100s of thousands of cars to the U.S. every year while the U.S.’s automobile exports to S. Korea are orders of magnitude less due to the unfair trade policies…agreed to by the Bush Administration?? Stupid. It’s decisions like these which make me feel that I won’t see a truly free worldwide market economy in my lifetime…and it might not happen at all…ever!

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By: Christian Hinckley

Christian Hinckley — Sun, 05 Oct 2008 03:45:11 +0000

One of the main problems is the Federal Reserve System. “Federal”?
Ha, Ha! The notion that it is in any way federal suggests that it has something to do with the government of the United States; and most people have bought this swill since the banksters originated the FRS in 1913 or thereabouts. Our money system has nothing to do with the United States Constitution. At its root the problem is that our money system is NOT constitutional. One of the powers of Congress is set forth in Article I, Section 8 of the Constitution of the United States–to coin money and regulate the value thereof. Unfortunately, the private banksters stole that
function from Congress long before most of were alive…much to America’s everlasting regret, corruption, and the rapidly approaching bankruptcy of the United States.

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By: Christian Hinckley

Christian Hinckley — Sun, 05 Oct 2008 03:28:00 +0000

Ron Paul is one of the only honest and intelligent man in the U. S. Congress. Christian Hinckley

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By: Peter Manousakos

Peter Manousakos — Mon, 22 Sep 2008 15:30:35 +0000

Ron, first of all thank you for being my defacto muse as I’m working very hard in educating myself in these matter. What is going on here is a horrific ‘debasement’ of the U.S. currency and a government that refuses to incentify ’savings’. Since learning of this economic universe, I’m reminded of the 1920’s when The Reichbank had to create a new currency called the Rentenmark, which was the equivalent of ONE TRILLION marks. This was done to stem off hyperinflation and it worked. The Reichbank was mandated forced into refusing to print anymore money until the crisis abated. Ameica, you have nothing to fear, because as things get progressively worse, you’ll have many leaders like Ron to help us clean up the mess. Ron doesn’t offer himself as a saviour, he simmply offers his service to a country he deeply loves. I don’t agree entirely with his platform but my esteem for his actions is immeasurable. I’m a Canadian who follows a renaissance that can only begin in the U.S. This Renaissance will be defined as a change in paradigm that embraced the values that shaped 21st Century Capitalism and Democracy. The people of this comments board are to be commended.

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By: Eugene

Eugene — Mon, 22 Sep 2008 01:54:13 +0000

I thought Ron Paul was confused when
he said McCain does not offer an alternative.
Now I see he was right, mainstream Republicans have joined with Democrats in
wasting our money on some idiotic worthless paper insurance, mortgage companies! I was OK with the Bear rescue, after all it was not a one sided rescue, but a joint effort with
JPMorgan. But with AIG it’s an outrage!!! And what is coming ahead…what if it only perpetuates the crisis…why should a former
Goldman Sachs chairman be indirectly supporting his former company, now that he is inthe government? He should be ‘handcuffed’ (stripped of power), we need someone more objective!

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By: Paul for President!

Paul for President! — Mon, 22 Sep 2008 01:44:24 +0000

Scary times.

Let’s write in Ron Paul.

votenic.com has a write in on their weekly poll.

go there and show your support!

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By: Dian

Dian — Sun, 21 Sep 2008 16:30:59 +0000

There is no demonstration or outrage shown by the public because our Government has everybody convinced this bail out is for our own good. We the people are afraid of making a wrong decision or a right decision. The way I see it, making no decision by the people is the WRONG decision. Fortunately, I have no money invested so I am not worried about me. However, I am worried about my children, grandchildren and their children. Will they have a Country called the United States of America to be proud of? Why should we be paying for private investors mistakes. No money should be given to the CEO’s. They must be held accountably and prosecuted.

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By: Karen Andrews

Karen Andrews — Sun, 21 Sep 2008 10:21:44 +0000

The Republicans have ruined this nation and I am sure Obama will give Ron Paul a real listen. He is a Chicago man and a decent person. I am not worried about the 2nd amendment, but our nation is on the brink and the bail out is one of the biggest scams ever attempted on this once-great nation.

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By: Charles

Charles — Sun, 21 Sep 2008 05:15:38 +0000

I am so alarmed at the proposed $1-2 trillion bailout (it will be much more than 700 billion in the end) being proposed. Firstly, it may not work – it may need to be followed up by more costly bailouts. Secondly, in order to sell such a massive quantity of treasury notes/bonds in such a short periof of time interest rates will have to rise 3-4x (assuming foreign countries don’t refuse to buy our debt at any price). An injection of $1-2 trillion into the money supply will trigger massive inflation for commodities (such as wheat, corn, copper, etc.).

Finally, why should tax payers bear the cost? It should rightly be formulated as a lien against the banks, to be repaid on a prorated progressive scale as a proportion of their future profits to pay off both principal and interest on their loans.

The way I see it, banks will be paid for their bad mortgage loans and when the governments put these same properties on the auction block for pennies on the dollar, the banks will then buy the properties back at 10% of the money that they were paid for the bad loan. They will walk away with 90% of the money plus a bargain property to boot. Is that the way to punish them for their wrecking of the economy?

The bailout, as currently formulated, is a terrible terrible idea. There are many other ways to work this out. I am very suspicious of anything that involves spending $1 trillion in a “hurry” because of an “emergency”. My parents many years ago told me never to rush any important purchase. It took Bush an entire year to spend $500 billion in each of his years as president. Now we are going to spend twice that in a week?? And without thinking through the consequences??

How much longer are we going to live in denial that we are creating a nightmare for us and our children??

Sincerely,

Charles

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By: jack

jack — Sun, 21 Sep 2008 02:34:28 +0000

Dear sir,
How come there is NO ONE demonstrating om Wall street.
We have got to let these people know that they have done so much wrong. Can someone please organize this, you do not need many people.

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