Ron Paul on 1210 Radio 02-17-09 Part 1 of 2
Finally, some convincing condemnation of Greenspan (not that I was eager to hear one).
I mean, when Nancy Gibbs of TIME magazine tried to blame Greenspan for the recession on the account of his libertarian leanings and aversion of regulations, it was just unconvincing, like one trying to blame the destruction of a rain forest on an activist that kept the loggers out (rain forest being the metaphor for the market economy and the loggers being the looters, i.e. the government).
But now when Ron Paul blames Greenspan for using governmental powers to meddle in the market forces, despite his libertarian leanings, THAT finally makes sense. In fact, how can anyone deny that it was the Federal Reserve's interventionist lower-interest policy that kept the housing bubble going (and everyone knew there was a bubble even back in 2000) and make it what some statists call "catastrophic"?
Without the government fueling speculation, the rising prices would have guided the invisible hand and sucked the life out of the bubble before it could burst.