Ron Paul on the recession: 'None of this is behind us' ["Wall Street has the strings" on DC]

The Hill, Washington, DC ^ | 2009-10-20 | Michael O'Brien

[rabscuttle385]

The U.S. has moved past none of the core issues that brought the economy to its knees last fall, Rep. Ron Paul (R-Texas) suggested Tuesday.

Paul asserted that while some big financial institutions may be starting to reap large profits again, the bailouts put in place to help those firms last year have only worsened the long-term economic standing in the country.

"None of this is behind us," the libertarian Republican said during an appearance on CNN. "All we have done is prolong the agony and very soon people are going to realize, in spite of all these huge profits, Wall Street is still a shaky place to be."

[rabscuttle385]

"You know, it is said that the Congress didn't have enough strings attached to the money that they were giving away, but I think the strings go in the other direction," he said. "I think Wall Street has the strings on Washington. And they pull and do what they want and that's where the corruption is. They control the monetary system."

*Ping!*

[algernonpj]

...All we have done is prolong the agony...

Sort of like taking pain killers, instead of dealing directly with an infected tooth. Eventually the pain killers will not work; by then you have a much worse situation that has to be dealth with.

[stephenjohnbanker]

Paul is spot on!

[scooby321]

Yeah , anyone investing in Wall Street is nuts.

[stephenjohnbanker]

The market is artificially pumped with “voodoo accounting” principles at the major banks, and market manipulation by Goldman Sachs and a few others.

[Nuc1]

Huge profits?

[djsherin]

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