Paul Ryan’s Express

The Bush and Clinton administrations, the current and previous Federal Reserve chairmen, and Treasury Secretary Timothy Geithner all bear some responsibility for the economic collapse of 2008. Those are the just-released findings of the Financial Crisis Inquiry Commission. However, only one of the Big Three agrees with those conclusions – the democrats. The Republican Party, along with their feistier younger brother, the Tea Party; refute the notion that risky financial schemes that netted trillions with virtually zero oversight should have raised any concern whatsoever.

As Paul Ryan explained, “We believe, as our founders did, that “the pursuit of happiness” depends upon individual liberty; and individual liberty requires limited government.” and, “Limited government and free enterprise have helped make America the greatest nation on earth.”

So we had to bail out the banks. Big deal. That doesn’t mean we have the right to regulate them. That’s not the American way…


One response to “Paul Ryan’s Express

  1. First, good stuff. I see you have only begun to write again after taking some time off. I encourage you to continue to add your voice.

    That doesn’t mean we have the right to regulate them.

    While the philosophical question of regulating is interesting, the larger point is that we don’t need more regulation. Consider, from the report:

    The prime example is the Federal Reserve’s pivotal failure to stem the low of toxic mortgages, which it could have done by setting prudent mortgage-lending standards. The Federal Reserve was the one entity empowered to do so and it did not.

    It wasn’t that any agency didn’t have the power to regulate; they did. They simply didn’t act on it.

    An example I enjoy is to consider a freeway. With a speed limit of 65 mph. And someone has an accident while going 80 mph.

    And the suggested fix is to move the speed limit from 65 to 50.

    That’s the case here. We HAD laws in place to address this; they weren’t followed. We don’t need more laws, we simply need better enforcement of the laws we have.

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