Posted at Bob Barr blog
Bob (Barr) talks about the bailout plan and wonders why the Feds are just now trying to take on the issue when they’ve know about the problem for years.
Bob says it makes no sense to give them $1 trillion to do create the same problem all over again. He adds that Republican and Democrats are both guilty for the problem and the “bogus solution†they presented.
1 response so far ↓
1 G.E. // Sep 30, 2008 at 10:30 pm
Bob Barr should not capitalize “the Feds” when he means “the federal government.” It’s too close to “the Fed” (i.e. Federal Reserve).
Okay. Barr’s take on (and understanding of) this situation is better than any other candidate’s will be, no doubt.
However, my criticisms:
1. The crisis was caused by fiat-money central banking. The lowered mortgage standards are more ancillary.
2. The article was written in 1999. What did Bob Barr do in Congress to address this issue?
3. He says nothing about the fact that, ultimately, the Fed (not “the Feds”) can do the bailout just as easily without ANY congressional authorization. And it won’t be the “taxpayer” that pays (which makes it sound like it will be funded by taxes). This fixation on taxation is wrong-headed.
I give the video a B+
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