The Mother of all Bailouts

OpenCongress Blog

July 24, 2008 - by Donny Shaw

The anomalous Rep. Ron Paul (R-TX) gives his two cents on the mortgage market/Fannie and Freddie bailout bill in a seven minute monologue uploaded to YouTube last night.

His metaphor for what the economy is going through is similar to President Bush’s that was revealed on a leaked video this week, only much more fateful. Here’s Paul:

>it’s like a drug addict that is totally addicted and the only thing he wants is another fix. In this case, the economy is addicted to easy money, inflationary programs of the Federal Reserve, as well as deficit financing. And if we quit there is some pain with it. But if not, we can kill the patient.

Also, I didn’t know that the bill establishes a federal fingerprint registry of everyone in the mortgage market, did you?

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Anonymous 07/26/2008 6:04am

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It also mandates that your credit card company send ALL of your purchase records to the IRS!

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