NEWS FLASH: Ron Paul is racist; blames government and minorities for capitalism's failure

[An Intellectual]

For some reason, some so-called "progressives" here like Ron Paul. Why? I have no idea; he's a radical racist free-marketist (even worse than Bush).

If anyone who claims to support using government to promote social justice says he/she likes Ron Paul, show him/her this article:

http://www.cnn.com/2008/POLITICS/09/23/paul.bailout/index.html?iref=mpstoryview

Government-sponsored enterprises Fannie Mae and Freddie Mac were able to obtain a monopoly position in the mortgage market, especially the mortgage-backed securities market, because of the advantages bestowed upon them by the federal government.

Laws passed by Congress such as the Community Reinvestment Act required banks to make loans to previously underserved segments of their communities, thus forcing banks to lend to people who normally would be rejected as bad credit risks.

These governmental measures, combined with the Federal Reserve's loose monetary policy, led to an unsustainable housing boom. The key measure by which the Fed caused this boom was through the manipulation of interest rates, and the open market operations that accompany this lowering.