Back in September 2003, Mr Paul told a House Financial Services Committee that: “Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market.
“This is because the special privileges granted to Fannie and Freddie have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions.” Of course, if we are going to give Mr Paul credit, than we should also highlight the efforts of Peter Schiff, his economic advisor and long-time economic hawk.
Ron Paul - Republican Congressman
Now only few numbers
Jul 21, 2000 1 share cost 40,81 USD x 647.02M = 26,405,000,000 USD
16. Sept 2008 price 0,26 USD = bankruptcy
And how much cost whole this financial meltdown?
How many people lost ... ... ... and maybe socialist patry (democrats) win:(
RON PAUL FOR PRESIDENT 2008
RP: The Revolution: A Manifesto
USA: Ron Paul Revolution (slovakian ver.)