Friday, December 17, 2010

WSJ Discovers Ron Paul is Serious about Liberty

None of what WSJ reports below would come as a surprise to anyone who understands Ron Paul's consistent thinking on liberty. But in this day and age of bank regulators, food regulators, futures regulators and on and on, when a congressman says he is against regulators, it is headline news.

Ron Paul: ‘I Don’t Think We Need Regulators’

Rep. Ron Paul (R., Texas), who is taking over a key House panel with oversight over the Federal Reserve, criticizes regulators in a new interview.

Appearing on C-SPAN’s Newsmakers (interviewed for a second time by the Journal’s Sudeep Reddy), Paul responded to recent comments by incoming House Financial Services Committee Chairman Spencer Bachus (R. Ala.,) on bank regulation. “I don’t think we need regulators. We need law and order. We need people to fulfill their contracts,” Paul said.

The congressman said that the market should play the main role in regulation. “The market is a great regulator, and we’ve lost understanding and confidence that the market is probably a much stricter regulator,” he said.

Separately, Paul, author of “End the Fed,” said of his new role overseeing the central bank: “I will continue to do exactly what I have been doing” but with a “better platform.”

You can see the full interview on C-SPAN on Sunday at 10 am or 6 pm EST, or you can watch it online now here.

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