Posted by Erik W on Sep 25, 2008 3:49 PM
Ron Paul on the bailouts - He had been predicting this would happen back in the primaries when others laughed at him. Who is laughing now?
"[The government] undertakes measures to keep prices artificially inflated. This was why the Great Depression was as long and drawn out in this country as it was."
"Additionally, the government's actions encourage moral hazard of the worst sort. Now that the precedent has been set, the likelihood of financial institutions to engage in riskier investment schemes is increased"