Congressman Ron Paul on the bailout

Congressman and former presidential candidate Ron Paul doesn't have any praise for recent government bailouts. He believes the government's preferred solution to the crisis is the very thing that got us into this mess in the first place: government intervention.  In Part 1 of this Speaking of Justice interview with Scott Drake, Paul maintains using trillions of dollars of taxpayer money to purchase illusory short-term security, the government is actually ensuring even greater instability in the financial system in the long term.

I wanted to get this first early part of the interview up for my readers and viewers at The Settlement Channel. Ron Paul is a famously libertarian representative from Texas, past Presidential Candidate and free thinker. His view of the current bail out and where it will bring us is even more striking now that we learn that AIG just got another $35 billion of credit from the U.S. Treasury and that there a moves afoot to allow the federal government to take equity positions in large national banks.

I feel like i'm living in Great Britan in the 1960s in that I'm watching the decay of our currency and socialization of broad segments of our financial and manufacturing base, primarily to bail out the lenders who gave them money.

Watch for all three parts of this Legal Broadcast Network exclusive interview with Congressman Ron Paul.

Watch Part 1 of the interview
Posted on October 8, 2008 and filed under Political issues.