Here we have a Congressman who not only saw the disaster down the road but more importantly had a good solution to prevent it. Isn't that the kind of President we need in the White House instead of elected officials who can't or don't want to see the future disasters and again, more importantly, provide preventative measues to avoid them. Ron Paul would make a good President. He may be the closest clone to a Soloman in modern times. If we had been listening and doing what he recommended America would not now be in this Depression. It would have been avoided.
On September 10, 2003 (yes you read that date correctly, i.e., 2003) Congress and the American Public was warned by Congressman Ron Paul in the House Financial Services Committee about the subsidies to the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the National Home Loan Bank Board. It was not just a warning but a warning with a SOLUTION. He introduced the Free Housing Market Enhancement Act, which would have removed those government subsidies which in turn would have prevented the painful crash in the housing market. He states: "In fact, postponing the necessary, but painful market corrections will only deepen the inevitable fall. The more people invested in the market, the greater the effects across the economy when the bubble bursts."
Read his entire statement at:
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