Free Republic

Last week, the Financial Crisis Inquiry Commission kicked off their first round of hearings on the causes of the economic meltdown on Wall Street. The commission is being compared to the the Pecora Commission launched in 1932 to investigate the causes of the Great Depression. The Pecora commission is beloved by those who believe the solution to every problem is more laws because it was used to justify a number of new laws, including Glass-Steagall. Of course, none of those laws addressed the real causes of the Great Depression. It was the introduction of unsound monetary policy and central economic...

Last week it was revealed that when Treasury Secretary Tim Geithner was Chairman of the New York Federal Reserve, he urged AIG officials not to disclose to the Securities Exchange Commission relevant details of agreements with banks to bail out Goldman Sachs. Apparently he felt at the time that regulators and the public would be angry that taxpayer money was used to fully compensate bankers who made some horrifically bad investment decisions. These banks should have suffered the consequences of the huge risks they were taking. After all, they kept plenty of rewards when times were good. Instead, the Fed...

In its recent look back on the first ten years of the century, Time Magazine proclaimed the period to be "the decade from hell." The editors made their case based on what they saw as the signature events of the last ten years, notably the ravages of terrorism, failed wars, and a global financial crisis. Taken together, these factors produced an era that Time is convinced will be remembered as one of the low points in our history. As the media hates to dwell on the negative, the commentary was rife with notes of optimism about pending recovery. It could...

CONCORD, N.H. (AP) — A former governor who is attracting attention from backers of Ron Paul’s presidential campaign is headed to New Hampshire. Republican Gary Johnson, who served as New Mexico’s governor from 1995 to 2003, will speak at a forum Jan. 23 organized by the Republican Liberty Caucus of New Hampshire.

The same grassroots energy that propelled Ron Paul from a little-known Congressman to a force in the presidential primaries now seems to be transferring to his son in his Senate run in Kentucky. Public Policy Polling's (D) latest survey shows him easily ahead of Secretary of State Trey Grayson, who was recruited by the national party after Sen. Jim Bunning (R) was pressured not to seek re-election. Republican Primary Election Matchup Paul 44 Grayson 25 Und 32

“What seems to be a GOP victory at first may well become another liberal victory in the long term. Unless Parker Griffith (formerly D-AL, now R-AL) starts voting like a true fiscal conservative, Alabama could be stuck with another entrenched Big-Government Republican Congressman.” “Welcome to the party, Parker. Here’s an electronic copy of the Constitution. Read it well, as you will have to continue to dodge us if you continue to disregard it.”

Liberty Republicans need to think about strategies to counteract the cooptation of the revived liberty movement that Rockefeller or Progressive Republicans will attempt. The Tea Party movement’s explosion shows that liberty Republicanism can succeed. As well, the failure of Rockefeller Republicanism under the Bush administration might keep big government Republicans from success, especially when we liberty Republicans refuse to cooperate with them. Because the Tea Party movement is composed of many fine and well meaning but inexperienced activists, it is susceptible to the same tactics that coopted the libertarian movement in 1980. If a Progressive Republican calls himself a “libertarian”...

Last week, in the name of protecting the little guy from Wall Street, the House passed HR 4173 to increase the little guy’s 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. One silver lining is that the amendment...

When I linked to a USA Today story the other day about Americans elbowing illegals out of the way for day-labor jobs, under my headline of "And Yet, We Still Haven't Suspended Immigration," one reader replied, "Yah, because protectionism is clearly the answer for our economic woes." This betrayed a widespread misconception about immigration and trade, one that's important to keep in mind as the president unveils the political theater production called his "Jobs Summit." Restricting immigration is fundamentally different from restricting trade in two ways, one theoretical, one practical. First, people are not things — in addition to being...

The U.S. Preventive Task Force caused quite a stir recently when they revised their recommendations on the frequency and age for women to get mammograms. Many have speculated on the timing for this government-funded report, with the Senate vote on health care looming, and cost estimates being watched closely. Just the hint that the government would risk women’s health to cut costs is causing outrage on both sides of the aisle. Even the administration is alarmed at its own panel’s recommendation. One official, the Secretary of Health and Human Services, Kathleen Sebelius told women to ignore the new guidelines, keep...

FRANKFORT, Ky. — Representative Ron Paul proved to be a surprising presence in the presidential race in 2008. Now his son, Dr. Rand Paul, has become an unexpected contender in the 2010 Senate race in Kentucky. Dr. Paul — an ophthalmologist and a son of the congressman, a Texas Republican and former presidential candidate — has become a serious challenger in the race to succeed Senator Jim Bunning. Capitalizing on a hearty distrust of government and an anti-Republican-establishment fervor among conservatives, he has used the Internet to raise more than $1.3 million since he began his campaign in August. “This...

I was pleased last week when we won a vote in the Financial Services Committee to include language from the Audit the Fed bill HR1207 in the upcoming financial regulatory reform bill. As it stands now, if HR 3996 passes, because of this action, the Federal Reserve’s entire balance sheet will be opened up to a GAO audit. We will at last have a chance to find out what happened to the trillions of dollars the Fed has been giving out. Finally, the blanket restrictions on GAO audits of the Fed that have existed since 1978 will be removed. All...

She sounds off on Ron Paul, health care, and, of course, liberty. BY MATT SNYDERS Michele Bachmann is a regular fixture on the cable news circuit. When it comes to print, however, she takes a more measured approach; she declined a phone interview with the New York Times last month, insisting on a Q&A via email. She gave City Pages the same deal. Here's what she had to say: City Pages: Your appearance with Rep. Ron Paul surprised some folks. At first blush, it would seem the two of you might come down on very different sides on a lot...

It’s still early to be thinking about 2010 elections, but the Republican Liberty Caucus National Board has approved several endorsements for 2010 already. Liberty fans across the country will be pleased to note that the RLC endorsed Rand Paul in his bid to become U.S. Senator in Kentucky, and Peter Schiff in his bid to represent Connecticut in the Senate. The RLC has also endorsed Jason Shepherd for State Representative in Georgia, Shane Schoeller (Incumbent) for State Representative in Missouri, and Bill Hunt for Orange County Sheriff in California. Our endorsements process has just begun, so please stay tuned for...

Dr. Rand Paul, Republican candidate for U.S. Senate, explained his position on taxes, government spending, the drug abuse epidemic, welfare and other government benefits during an exclusive interview with the Times-Tribune, just hours before his appearance at the University of the Cumberlands in Williamsburg. Initially, Dr. Paul addressed drug abuse in rural Kentucky. As a doctor, he immediately zeroed in on more vigilant policing of doctors who recklessly write prescriptions. He asked, “Are they being disciplined? I’m a doctor and occasionally I’ll get notification from the medical licensure board of people who are having their licenses suspended.” Referencing a recent...

The Republican party in Kentucky has never seen anything like it. Bowling Green eye doctor Rand Paul has no political experience, but with the support of the same people who backed his Dad - Texas Congressman Ron Paul when he ran for president,, Rand Paul has now at least pulled even with Secretary of State Trey Grayon in the GOP U.S. Senate primary. 32% Grayson 35% Paul 2% Johnson 1% Oerther 3% Thoney 10% Other 18% Undecided In fact, the WHAS11/Survey USA poll has Paul ahead of Grayson by three percentage points - with a 4.1 percent margin of error....

A Republican Liberty Caucus-endorsed candidate for House of Delegates in Virginia was endorsed by The Washington Post last week. Eric Brescia, who is running in a longtime Democrat stronghold in Arlington, Virginia, impressed The Post. Brescia, who is young, articulate, and has strong libertarian leanings, has run a campaign that may well fit his far-left district during an economic crisis due in part to overspending: his campaign emphasized policies that are socially tolerant and fiscally conservative. The Post said, “[Brescia] is exactly what the Republicans need in Northern Virginia: an independent-minded thinker who has fresh and specific ideas for how...

There has been a lot of talk in Washington recently about senior citizens, mostly about how various healthcare reform models would help or hurt them. But there is another critical issue that has quietly devastated seniors financially over the last few decades. It concerns how the cost of living is calculated. How does the administration justify not giving a cost of living increase to Social Security recipients this year? According to the official Consumer Price Index calculation, life has gotten cheaper for the first time in decades. If the government can show statistically that the cost of living has gone...

Why can't other Republicans argue like this without being ashamed.. Here is someone who understand capitalism and will defend it as a system thats good for society and the well being of other human beings

It's the Democrats who won't tolerate a diversity of views. BY JIM DEMINT Sen. Arlen Specter's defection to the Democratic Party this week is no reason for Republicans to cheer. But his reason for leaving -- he faced an unwinnable primary election next year -- is no cause for soul searching. There is a question Republicans do need to ask: What is it that binds our party together? In the wake of two successive electoral defeats and the likelihood of a 60-vote Democrat majority in the Senate, what does it even mean to be a Republican today? Moderate Republicans are...