Congressman Ron Paul weighs in on Bernanke’s preposterous award as Time Person of the Year.
Last week, in the name of protecting the little guy from Wall Street, the House passed HR 4173 to increase the little guys false sense of security in the financial system. This mammoth piece of legislation would massively increase government regulation and oversight in the banking industry under the misguided reasoning that more government could have stopped faulty lending practices, when in actuality it caused them. This bill would also greatly increase the powers of the Federal Reserve, which too many in Congress still see as savior rather than perpetrator in this mess.
RT talks to Congressman Ron Paul about why he opposes both Obama’s and his own party’s support for the war in Afghanistan, why he wants to abolish the Fed. and what is Paul’s recent Free Competition in Currency Act of 2009″.
And at Rep. Ron Paul, the 2008 presidential candidate who had the zany idea — as many laughing people thought — that the Federal Reserve system could become a sizzling political issue. Ben Bernanke, chairman of the Fed, who does not laugh promiscuously, knows that it is no laughing matter that Paul has 317 co-sponsors (180 Republicans, 137 Democrats) for a bill to open the Fed’s books to “audit” by the comptroller general.