I wish we had more politicians speaking candidly like House Representative Peter Defazio does in this clip. Defazio takes 5 minutes on the House floor to speak out against the outrageous Paulson intervention plan. Make no mistake people; this is one last power & money grab before the end of an era...an era of the worst governing in American history.
Update 1: Here is some extra info from one of the world's smartest investors--Warren Buffett, on why we should be paying not one red cent more than market price for any bailout we approve.
Update 2: Added video of Ron Paul lecturing Bernanke and the rest of Congress on the flaws of the bailout plan and the hazards of attempting price-fixing. Paul also questions the authority and constitutionality of just printing dollars to generate all the extra money needed for the intervention.
Update 3: Added a Forbes article where a Treasury spokesperson explained the $700 Billion figure being requested: "It's not based on any particular data point, we just wanted to choose a really large number." No, I'm not kidding...she actually said that.
Update 1: Here is some extra info from one of the world's smartest investors--Warren Buffett, on why we should be paying not one red cent more than market price for any bailout we approve.
Update 2: Added video of Ron Paul lecturing Bernanke and the rest of Congress on the flaws of the bailout plan and the hazards of attempting price-fixing. Paul also questions the authority and constitutionality of just printing dollars to generate all the extra money needed for the intervention.
Update 3: Added a Forbes article where a Treasury spokesperson explained the $700 Billion figure being requested: "It's not based on any particular data point, we just wanted to choose a really large number." No, I'm not kidding...she actually said that.
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