Ron Paul Blasts “Secret Government” Running Economy

Discussion in 'Economy' started by eots, Sep 18, 2008.

  1. eots

    eots no fly list

    Jan 6, 2007
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    Congressman warns middle class in danger of being wiped out, says Congress is oblivious and Fed has no clue

    Steve Watson
    September 18, 2008

    Congressman Ron Paul has issued a stinging address concerning the financial crisis in which he outlines how the current economic problems, created via malinvestment and shift to a debt based economy, are now being mismanaged by private interests in secret.

    What’s more he says he is not sure the Federal Reserve has any idea what to do next and that the Congress is totally oblivious to the whole sorry state of affairs - a cocktail of elements he warns puts the middle class of America in serious jeopardy.

    “Today we had a lot of financial fireworks in the markets, a lot of things are going on, and I think we are in the middle of something very big.” the Congressman stated.

    Speaking on the recent collapse and government bailout of several big financial institutions he warned:

    “We’re talking about big bucks, we’re not talking about hundreds of millions or even hundreds of billions, we’re talking about trillions of dollars, the obligation is immeasurable.”

    “The interesting thing is that they (the financial institutions) don’t come to the Congress, I mean the Federal Reserve buys them out, they own it. We as tax payers now own Fannie Mae and Freddie Mac and know one knows how much that will cost. They don’t come to the Congress, we don’t have appropriations, it’s done by secret government, private individuals behind the scenes maneuvering and manipulating and trying to patch things up. While in the meantime, I’m sure there’s a few people making a couple of bucks out of this whole thing.”
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