Does Ron Paul support more regulation from Congress over markets?
Submitted by zrih1 on Sun, 09/21/2008 - 10:00
I just watched Face the Nation...
The commentator and the two senators that were on said that the cause of the market crisis is that there was not enough regulatory oversight or laws in place that would prevent big companies from making risky loans. Does Ron Paul support more regulation from Congress over markets as to prevent something like this from happening in the future?
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Heck no!
'Does Ron Paul support more regulation from Congress over markets as to prevent something like this from happening in the future?'
Short answer:No.
Cliff notes version of the doctors position:
The system is broken. Government interference creates problems such as the one we're all watching unfold (In this most recent financial crisis, the federal government monkeyed around around with the marketplace and made worthless junk look like a good inventment.) Sure, some level of regulation could have prevented/staved off this event, but that wouldn't address the underlying problem. Bad policy decisions made at the federal level make it profitable to do stupid things and trying to keep people from taking advantage of that is impossible (Unless you want to just socialize everything.)
To steal a quote from Jurrasic Park: 'Life will find a way.' Don't fight the market you'll never win, just let it do its thing and it will work for you.
You should have been watching Ron Paul on CNN
Wolf Blitzer asks him what he thought of McCain's proposal to create yet ANOTHER bureaucracy to oversee markets, and he thought the idea was ridiculous.
I watched it and I liked what he said, but it...
doesn't seem realistic because if we let these companies fail there is going to be suffering. But i get there is going to be suffering one way or the other because eventually they will fail no matter what?
The truth of the matter is
The truth of the matter is that there is going to be much more suffering because they are only prolonging and deepening the economic disaster. As I stated many times before, this entire economic system, based upon fiat money, is in the final stages of collapse. It will not be pretty. This government is only attempting to treat the symptoms and ignore the disease, when that happens the underlying disease only becomes worse, the problems become worse and eventually the patient dies, in our case it will be a very, very ugly death of this economic system. Everything that depends on fiat money will die along with the monetary system. All investments, pensions, 401ks, mutual funds, money markets, social security checks, government bonds, etc. will collapse with the monetary system.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
LOL... this thread...
...is like a sleepy baby tuna asking a school of piranha if they know any good places to take a nap.
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What is begun in anger, ends in shame.
Government "regulations," or
Government "regulations," or rather "manipulations," are what got us into this financial mess. It's not a new thing, either - and it's all over the place. Big gov has been causing these types of problems for years.
The proof to all this is seen even in your first post to this discussion:
Rather then manipulating/regulating the markets even more, why don't they simply take steps to reach their goal. All they need to do is get out of the way.
If they really wanted to "prevent" big companies from making risky loans then they would "allow" those big companies to suffer the wrath of the free market. The free market economy would slap those big companies silly. Want to make risky loans, then be prepared to lose your money and possibly go bankrupt.
The only thing these senators are suggesting is transferring the consequences of the bankers risky actions on to the backs of the American taxpayers.
...
Thanks john2K!
That was the most clear explanation. But our president and congress men and women really believe that they are doing what is best for the economy. But I think I get what Paul and you are saying: let these companines fail, suffer the consequence, dust your self off, and get on with life. If a few suffer so be it. But who will suffer the most dire consequences from letting these banks fail?
You have got to be kidding
First of all, when someone on tv tells you the reason for this mess is because of lack of regulation, you should curse at your tv set, shut that stupid idiot box off and never believe anything else those folks ever say again!!!
unreasonableman
It's our senators and congress leaders saying it too!
And every common person on the street. Should I curse them too?
No.
You've been here 9 weeks and you don't know that RP doesn't think government can solve the financial crisis by getting more involved?
Free and Brave
or Cradle to Grave
You can't have both
Free and Brave
or Cradle to Grave
You can't have both
To Ask
government to come in and help with ANYTHING is like asking them to come in and strangle you to death!
No difference! Nadda! Zero! Zilch!
Government involvment = Death
" In Thee O Lord do I put my trust " ~ Psalm 31:1~
" In Thee O Lord do I put my trust " ~ Psalm 31:1~
free market solutions
Ron Paul supports free market solutions.
Listen here from today: http://www.youtube.com/watch?v=3qLefrvxbq8
"We need a market economy."
"It's a contest between inflation and deflation. Everyone in Congress wants to inflate."
"Wall Street wants to dump it on Main Street."
http://FlipFlopRomney.blogspot.com
Read my comment on this
Read my comment on this thread entitled "Maybe this will help..."
http://www.dailypaul.com/node/62846
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
enforce contracts
The constitution does give congress the power to enforce contracts and I believe that is where he sees congress's responsibility on oversight.
http://www.meetup.com/RP2012GrandJunctionCO
It is simply amazing to me
It is simply amazing to me that Ron Paul supporters still come here and ask questions like this. No He does not support more regulation that is what got us in this mess; government intervention giving the illusion that these thieves were trustworthy.
There were already laws against fraud i/e selling contracts for assets you did not posses and loaning money that did not exist and collecting interest on it but government intervention as in laws were passed to allow a certain amount of this fraudulent activity and then when it fails as it was doomed to do from the beginning they further pass laws and regulate to steal our money to cover their losses.
And some still want these people to regulate more... Big Sigh!
You cannot loan or sell that which does no exist or you do not own and consider yourself honest period! With a true free market these thief's and robbers would fall by the way side because no one would do business with them as soon as they are found out and they would likely be arrested and jailed.
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This is a good thread!
Sorry I don't understand the market. It's complicated stuff. I thought I asked a good question. If you guys do a good job explaining it to me, I can share it with my friends, family and everyone I meet. That is our goal isn't it? To get the message out?
yep Hawk I still just sit
yep Hawk I still just sit here ijn amazment with some of these so called Ron Paul supporters! I can see it from new converts but some of the same old BS from some folks who have been here a long time.. gets frustrating!
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
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a very concise definition of banking
"You cannot loan or sell that which does not exist or you do not own and consider yourself honest period! "
They create money using depositor's money...that is what banking is. It is inherently an illusion that needs to be propped up by "authority". Much bank regulation is simply to allow the business of banking to go on at all...to support its legitimacy in the eyes of the public. Banks want to be regulated and fear the free market beyond all measure...and for good reason.
More regulation needed?...not necessarily. Blame for the current crisis? enough to go around. It was the relatively unregulated and implicitly "guaranteed" financial markets where the problem occurred. Eliminate all regulation?...suicide in the short run, even if a grand idea in the long view.
"t is simply amazing to me
"t is simply amazing to me that Ron Paul supporters still come here and ask questions like this"
Get off your high horse, he's been here for 9 weeks, not 42.
But he is right...I too am
But he is right...I too am amazed that such questions are asked when Dr. Paul has repeatedly expressed his opinions on the subject of the distortion that such regulations create.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
you guys are easily amazed then.
everyone is at different stages of learning. cut them a break and decently answer their question.
now instead we are arguing and amazed. lets educate instead.
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if you build it he will come..........Ron Paul 2012.
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Exactly.
At least they are asking. This country would be better off if more people asked that question.
IMO Ron Paul has been
correct in pointing out the failures of our banking system & espcially the Fed's private nature.
However, I think he is not in touch with reality if he thinks there can be no firm, common sense regulation in the business world of 2008.
I actually had this discussion w/ a Sr. Obama advisor in NH. He said he knew Paul & liked him, but didn't agree with his "hands- off" business approach.
You're the one who is not in
You're the one who is not in touch with reality. We already have a history of hands off business in this country for over a hundred years and we did really well. What you seem to fail to understand is the regulation we do have is biased in favor of the politically connected and power elite and actually facilitates the fraudulent banking system.
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End The Fat
70 pounds lost and counting! Get in shape for the revolution!
Get Prepared!
If there can't be
Fortune Favors the Bold
maybe the business world of 2008 deserves to fail, and we should build something better in its place.
Fortune Favors the Bold
No, NO, NOOOO !
BLAME all this on “GOVERNMENT INTERFERENCE”
Want someone to blame? Blame Congress, whose continual Deficit Spending (Spending more than taxes that come in) and then blame the Federal Reserve for MONETIZING that OVER SPENDING or debt, then blame the Treasury for Selling that Debt as T-Bills, T-Bonds to China, and THEN blame More Government interference by not putting the $3 trillion dollar war on the BOOKS, and THEN BLAME the Financing that Iraq war through even more debt, the Fed MONETIZING that debt, the Treasury selling that Debt, and then BLAME the Wall Street boys for packaging up artificially low interest rate very risky Mortgage backed securities as “first rate safe securities” and dividing up that debt a million ways (derivatives) and then selling that debt to Financial institutions, Banks and lots of other greedy fools.
Look, Wall Street does not give a dam when 20,000 American auto workers loose their jobs, they just say,
“Hey, that’s the Free Market at work adjusting to high labor prices and too much government regulation & interference in the marketplace”
…(AND THEY ARE RIGHT)…...
Well now its our turn to say to the Banks and the Wall Street boys,
“Hey, that the Free Market at work adjusting to high labor prices and too much government regulation & interference in the marketplace”
So Call your Congressman! STOP having the Tax payer ON THE HOOK for all the mistakes of Washington and Wall Street. Get it?
Let them hang themselves out to dry, default, collapse, but leave the AMERICAN TAX PAYER and American worker ALONE
Long live the Free Market, the US Constitution, and America!!!
In Peace & Liberty,
Treg
I can tell you right now
I can tell you right now without looking it up. No, he does not support more regulation. In fact, Ron Paul wants the government out of the market altogether.
You'll be hearing a lot about the causes of collapse on the news, but these will be coming from people who had no idea anything was wrong until recently. Ron Paul understands that the problem is systemic and has to do with a poorly run federal government monetary system. In other words, Ron Paul correctly understands that the problem was never not enough regulation but rather too much government regulation/intervention that caused the mess we're in.
"My theories explain, but cannot slow the decline of a great civilization. I set out to be a reformer, but only became the historian of decline."
- Ludwig Von Mises
He does however
Fortune Favors the Bold
favor more oversight of the central bank.
He also is against laws that give advantages to corporations in areas of court disputes (which would make it more difficult for companies to defraud investors)
Fortune Favors the Bold
What is the cause of the crisis?
Can you explain it in Dummy terms?
RP
if I had to guess based on the interviews that I have seen, the root cause of the problem is primarily inherent flaws in our monetary system.
- Debt based system of currency
- independent, privately controlled, central bank (the Fed)
- fractional reserve banking system
google "The Money Masters" - damned interesting stuff.