Ron Paul's Bailout Criticism: Illiquid Assets Are Illiquid For A Reason (VIDEO)

Rep. Ron Paul, the Republican from Texas whose primary presidential campaign sparked a huge Internet following, let loose on Federal Reserve Chairman Ben Bernanke during testimony in Washington, D.C. today, making his skepticism of the proposed $700 billion Wall Street bailout known.

WATCH:

Comments

[ENOS]

Yeh, I think Ron should be given a cabinet position, as well as Kucinich (maybe sec. of energy, or create the Department of Peace idea that Kucinich is famed for thinking up).

These would be just too perfect of choices for any politician to commit too though, unfortunatly. We can always hope though.

[NURREDIN]

Ron Paul is spot on. Why couldn't the Republicans see this guy was the best thing for the party? Noone listened to him and they called him "Chcken Little" and now everything thing he said was gonna happen is happening. I hope Obama uses this guy in some way. After Palin's interviews I can't see anyone with a brain taking McCain/Palin seriously.

[Pdubya]

Look to Von Mises and Hayek and our Constitution.

there are only two parties on the Hill: The complicit and the clueless. Those camps cross party lines, because it is the wealthy that doesn't want to see the very culprit of this problem addressed: The Federal Reserve and our monetary policy. ...aka, central banking and the creation of credit out of thin air.

Please, don't be so naive to think Obama is our savior. He is complicit, just as Bush, Clinton, Bush I, Reagan*, and Carter and before. We should remind ourselves of NAFTA, Eastern Europe, China, CRA, Brenton Woods, M3 manipulations and the Presidential Commission on Debates. The breakdowns span party lines because we don't have two parties, we have one: the criminally rich.

conservatives understand this. that is why the republican party has shrunk, because the neocons have highjacked it. some liberals say "yeah", we don't need them. there are few liberals on the Hill, just as there are few conservatives on the Hill. this only creates more one-party mentality.

They have us duped. Both sides. Some have woken up.

www.campaignforliberty.com

www.mises.org

www.silverbearcafe.org

www.votepact.org

peace

[ENOS]

I agree that with everything you have stated. Still, Obama is a far better choice than McCain/Palin.

We need to be honest with ourselves about our options.

[Pdubya]

it is a pipe dream to think that Obama will use Paul, or that Paul would give up his principles to serve under Obama.

we are presented only two options with only two outcomes:

1 "do nothing" (a politically bigoted word meant to dive citizenry of dems/repubs) = severe, painful, but relatively short recession

2. bailout = infusing more fiat currency into the system, devaluing our dollar even more and creating hyperinflation and a long drawn out depression

Keyesian Economics's failure coming to fruition.

[ENOS]

In other words, we can either take it short and hard, or long and soft?

hmm.. I guess we're SCREWED either way.

I'm hoping for someone to have an actual answer, although I am glad the conversation is not being rushed.

[Bjarni]

Full video of his Q&A with Bernanke
http://www.youtube.com/watch?v=dv6rQ0U01Yc

more detail on what he feels about this.
http://ca.youtube.com/watch?v=TlgByE1jDRA

[hatermagazine]

Can Ron Paul be our treasury secretary?

[littlepear]

He is not saying anything new.
YouTube:
ron paul morton downey jr
and see that Congressman Paul has not swayed one iota from his stances from nearly 30 years ago. Quite an astounding feat in the world of politics.

Why not join the
·.¸`'·.¸`'·.¸ ¸.·'´/¸.·'´/¸.·'´
´¨` R[ƎVO˩]UTION ¨`
¸.·'´/¸.·'´/¸.·'´ `'·.¸`'·.¸
http://campaignforliberty.com

[watchTVgetSTUPID]

Empires fall when their economies fail.

Bush overextended us with wars, tax give aways, chaining the regulators and loosing the Hedge Funds, and most damaging of all moving our factories and jobs to China.

[ENOS]

Here Here, but... even though most of our job loses have occured under George W., the actual signing away of our jobs to China falls under the guilt of Bill Clinton. Read up on it. It's the main reason I voted for Obama vs. Hillary.

[youzaho]

It's good to see all it takes is one total economic meltdown for the Huffpo to cut through the crap and realize, hey, this Ron Paul guy is making sense.

Cheap money means more people borrowing beyond their means to purchase things they wouldn't ordinarily be able to afford. Sooner or later the credit card bill comes due. Sooner or later is here. Who is manipulating the money supply making lending cheap? The Fed. Who intends to bail us out of this mess by printing more money? The Fed.

I absolutely do not trust Bernake and Paulson to resolve this situation. I do trust them to look after their own on Wall St. first. Too bad I'm not a filthy rich investment banker.

[harrymellon]

REVOLT

[Hirnlego]

Ron Paul saw it coming as did Spitzer:
http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783.html

White House Admits It Drew Up Bailout Months Ago
http://georgewashington2.blogspot.com/2008/09/white-house-admits-it-drew-up-bailout.html

The Bailout Will Kill the Dollar
http://www.counterpunch.org/lindorff09232008.html

[AC500]

I wish could find more on what Ron Paul is saying about this bail out and his ideas going forward.

[rlmcintosh]

www.campaignforliberty.com

[rlmcintosh]

or try
http://www.campaignforliberty.com/

hopefully huffpo will let you link through

[rlmcintosh]

Go to their blog and look in the right hand column you can find all sorts of info on the Federal Reserve, The Economy, etc

Ron Paul really should be our next President. I know! I know! You all love Obama and think he is going to some how save us with his 300 Billion dollar proposed increase in Federal Spending - ie his budget. He's not. If this bailout plan gets passed it is the end of the dollar and thus the end of our empire.

The issue in this election is not race or even Republican v. Democrat - it is are you going to restore the Constitution or aren't you? Because we are going to need that Document when folks are at the breaking point because they don't have FOOD. We need the Rule of Law and it is now on its last legs. Thanks to 20 years - yes the Clinton Administration played a part too - of Dem v. Repub bickering and BS. Kucinich and Ron Paul despite being diametrically opposed in their financial understanding of the world are two of the best Statesmen we have. That Marcy (is it Raptur? ) from Ohio is pretty good too. The rest are all politicians who would sell us all down river for another day in (what they feel) is "power".

[AshevilleVoice]

I'm surprised that the outspoken Ron Paul is not willing to connect the dots between the FBI's investigation of fraud with Fannie, Freddie, AIG, etc and why certain mortgages and securities are "illiquid."

Fact is, you can sell a $500 mill home if you mark it down, as Paul suggests. You cannot sell the mortgage if the house exists only on paper- if the mortgage itself is fraudulent. Securities that contain bundles of fraudulent mortgages are worthless. Which is why they cannot be liquidated in the market itself by lowering prices.

To verify this, google catherine austin fitts collateral fraud

[Shaddup]

Ah, what a refreshing quote from the rebel... Love this guy! Sec'y of Treasury for sure!

[EvilCartman]

Wow, HuffPost actually covering RonPaul, I must be dreaming.

[SCG]

If decades of declining real incomes, and debt brought us to this breakdown. How will more debt solve this problem?

Only kick the can down the road.

[Novelismo]

Corporate and personal accountability -- that's the real key. Companies and human beings tha presided over the carnival of greed made at least ten tirllion dollars over the last five years, assuming they were able to make at least 5% on the credit default swaps. Why can't they cough it up before they get a nickel of public funds?

Monetary crimes are always "legal" ... read Alexander del Mar for a new perspective. .