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May 17
2008
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Ron Paul expressed his disapproval of reserve requirements going down to zero, and criticized the Fed not just for buying rapidly declining housing securities, but also for talking about using credit card securities, car loan securities and student loan securities to back the creation of new “money”:
Ron Paul went on to state that bailouts just make the problem worse and that while he does believe in regulation, it was government regulation that distorted the market and caused malinvestment:
http://www.ronpaul.com/2008-05-16/ron-paul-volcker-fed-government-regulation/
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