Ron Paul: Today there is a lot of expression of outrage, and indeed there should be. I don’t believe that this resolution really addresses the real problem that we have. It looks like it is giving the administration an excuse by saying that he is only doing what we have asked him to do. And in many ways, this is true.
And the real fault, I think, falls with the Congress ever giving this money and allowing this to happen. But to excuse the administration and then complain about these bonuses and think that that can solve our problems… it just won’t do that.
The real outrage, I think, is the lack of monitoring of what we do. We give out money, we have no strings attached, we give out hundreds of billions of dollars, and we totally ignore what the Federal Reserve does, by it issuing literally trillions of dollars, and yet this is the emergency legislation.
This is politically driven, I happen to believe, and I think people would like to express their outrage, and they do. It’s an easy target picking on AIG, but we create these problems. We create them by doing things that are unconstitutional. We come up with these schemes and these expressions and excuses.
At the same time we don’t address the subject of why do we spend money, why do we allow a monetary system to operate without any supervision by the Congress. That’s what our real problem is, and someday we will address that and deal with this rather than doing it in a political way and saying, “Well, it’s not our fault, it’s their fault”.
In his appearance on Wednesday’s Freedom Watch Ron Paul talked more about his position on the hot topic of bonuses. He clarified that while Congress should act to get the bonus money back because it was stolen from taxpayers, it’s the entire bailout that should have never happened.