ivoteamerica

Ron Paul (R, TX) is looking a lot smarter today. Of course, he would rather be wrong about his predictions that the mortgage and financial markets have the potential to bring down the nation’s economy as we know it.

Ron Paul took on the Federal Reserve almost single handily when it was chaired and led by Alan Greenspan. Most Americans don’t know that, according to REALonomics.net, an often cited real estate industry blog, the heralded Chairman Greenspan endorsed subprime lending.

Ron Paul Spanks Ben Bernanke

It was Ron Paul who blistered Ben Bernanke in hearing after hearing because of his money policies and the devastation that Paul predicted would come to the housing and financial markets, not to mention the country, if Bernanke persisted in making money too cheap and too available. Ben bucked Paul’s notions and here we are the American people, the proud owners of Freddie and Fannie.

Now that “we” own Fannie Mae and Freddie Mac, what does their take-over mean to the real estate industry, to home owners and taxpayers?

Capital Punishment for Americans

We’re being kicked in our financial fannies, pun absolutely intended. What in the world does the Federal Government think it is doing, anyway? Are we completely out of control in Washington? Have we completely lost our financial compass and the sound economic principles that once guided the country?

Freddie and Fannie are the giants that back trillions and trillions of dollars in loans, all kinds of loans, not just subprime. If you have a mortgage, it’s most likely guaranteed by taxpayers through Freddie and Fannie.

The average home owner and faithful tax-payer will become the biggest victim of all because it will be Mr. and Mrs. Homeowner who will finance the takeover and the repair costs to reinstate Mac and Mae, if indeed, they can be repaired and restored at all.

Bernanke taken to the Tool Shed

Back to Ron Paul and Ben Bernanke. Check out these Ron Paul Vs. Ben Bernanke posts from REALonomics.net going back as far as October, 2007:

Ron Vs. Ben – Part 1

Ron Vs. Ben – Part 2

Bernanke schooled once again by Paul.

The problem with the government bailout is a simple one…where do we as the taxpayers stop. Where do we say to the politicians in Washington, “enough is enough” and allow the markets to repair themselves with good old fashioned open market principles of capitalism?

If the Fed keeps it up we will all be on our fannies! Watch out! There is more coming, unfortunately.

What are your thoughts?