In a recent commentary on CNN, United States Representative and former GOP Presidential hopeful Ron Paul
of Texas had given his two cents on the growing subject about the bailout in regards to the housing crisis. In a nutshell, Paul has made it known that he dislikes the notion of the government bailout of the mortgage companies.
Paul explains that the government bailout will only make things far worse. He cites the bailout as an example of the government butting into the economy, let alone butting in too much. In addition, Paul has said that what the government is doing is the same thing that had caused the crisis.
Also, he had made the link between increases of cash while there was little demand from the customers. Paul said that ultimately led to too much building.
On a personal note, where I live in Florida, I have seen housing development boom at a very ballistic speed. Several years ago, it was not the case. Today, wherever I drive, all I see is one housing development after another.
Paul proceeded to criticize policymakers for not learning their lesson. Everything Paul had to say can be summed up into a simple forewarning: the bailout of groups like Fannie Mae and Freddie Mac will not alleviate the problem; but, it would only make things far worse than they are.
Paul strongly feels that the bailout will escalate financial instability. Perhaps he may have more to say on the subject in the near future. One could say that the Ron Paul Revolution is still alive and kicking.