Matt Collins
12-18-2010, 12:02 AM
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 (http://blogs.wsj.com/economics/2010/12/16/qa-ron-paul-on-his-new-perch-to-fight-the-fed/)), Paul responded to recent comments (http://blogs.wsj.com/washwire/2010/12/15/a-spat-breaks-out-on-house-financial-services-committee/) 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.
SOURCE:
http://blogs.wsj.com/economics/2010/12/17/ron-paul-i-dont-think-we-need-regulators/
Appearing on C-SPAN’s Newsmakers (interviewed for a second time by the Journal’s Sudeep Reddy (http://blogs.wsj.com/economics/2010/12/16/qa-ron-paul-on-his-new-perch-to-fight-the-fed/)), Paul responded to recent comments (http://blogs.wsj.com/washwire/2010/12/15/a-spat-breaks-out-on-house-financial-services-committee/) 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.
SOURCE:
http://blogs.wsj.com/economics/2010/12/17/ron-paul-i-dont-think-we-need-regulators/