Economic: Ron Paul on Trade Regulation and the Stock Market Crash this Week

[voyager]

I was hoping someone familiar with Ron Paul's philosophy on free trade could elaborate on his views concerning the stock market crash that happend this week. 85 billion dollars in government bail outs and everyone seems to be saying that unregulated free trade was the cause of the problem. I know Ron Paul is a hardline supporter of free trade and hates market regulation, but don't the events that transpired this week prove that regulation is necesarry?

 

[gls]

Ron Paul addresses financial crisis

http://www.campaignforliberty.com/blog/?p=554

 

[nickcoons]

...but don't the events that transpired this week prove that regulation is necesarry?

Just the opposite. It was government policy that caused the problems in the financial industry that they turn around and bail out. Creating regulations to control this would be like plugging the holes in a boat with bubblegum on one hand while drilling new holes in the boat with the other. Not only can they not keep up with plugging the holes, but the old holes they plugged spring loose again because bubblegum is a very temporary solution.

 

[voyager]

I figured Senator Paul would have a legit answer.

Always does. Thanks.