April 15, 2008

Ron Paul Sees Bailout Writing on the Wall

"They cannot have all these bailouts—whether it's bailing out homeowners, or mortgage companies, or banks. If they do it by just the creation of new credit, eventually they destroy the dollar. So I think we are going to face something much greater than the crisis we faced in 1979 and 1980, when we needed 21 percent interest rates in order to rescue the dollar. I think conditions are much worse [today]."

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