Libertea Party
11-18-2011, 07:49 AM
Joe Scarborough Talks to NewsBusters About Being MSNBC's Lone Conservative Host
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SCARBOROUGH: But let me circle back really quickly, because I’m not disagreeing with you. I’m just saying you’re leaving out what I think is equally or even more damaging to the economy in the long run. That is when the Clinton administration started aggressively pushing for Fannie and Freddie in 1999 to lower their standards. And by lowering their standards, and by the way, the New York Times in real time had people predicting this was going to lead to a bubble. I always love quoting Ron Paul who on September 10, 2003, in a banking committee, predicted chapter and verse what was going to happen.
NEWSBUSTERS: By the way, Joe, you’ll find it interesting. I said four people voted against Commodity Futures Modernization. Ron Paul was one of the four.
SCARBOROUGH: That doesn’t surprise me at all because Ron Paul was on the banking committee, and so I actually should have talked to Ron that day. But Ron on September 10, 2003, actually gave a remarkable speech I would hope all of your listeners and readers will read up on where he said what’s going to happen is, we’re going to cause a bubble to occur in the mortgage market, and because it’s going to affect all, it’ll be like a virus spreading around the entire economy. So when the bubble bursts, the consequences are going to be absolutely catastrophic. And Ron Paul was right. Of course, he was saying that at the same time that others were attacking any Republicans that were against this as being racists for not wanting people of color to have the same opportunities that others had.
Read more: http://newsbusters.org/blogs/noel-sheppard/2011/11/18/joe-scarborough-talks-newsbusters-about-being-lone-conservative-host#ixzz1e44I3huT
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SCARBOROUGH: But let me circle back really quickly, because I’m not disagreeing with you. I’m just saying you’re leaving out what I think is equally or even more damaging to the economy in the long run. That is when the Clinton administration started aggressively pushing for Fannie and Freddie in 1999 to lower their standards. And by lowering their standards, and by the way, the New York Times in real time had people predicting this was going to lead to a bubble. I always love quoting Ron Paul who on September 10, 2003, in a banking committee, predicted chapter and verse what was going to happen.
NEWSBUSTERS: By the way, Joe, you’ll find it interesting. I said four people voted against Commodity Futures Modernization. Ron Paul was one of the four.
SCARBOROUGH: That doesn’t surprise me at all because Ron Paul was on the banking committee, and so I actually should have talked to Ron that day. But Ron on September 10, 2003, actually gave a remarkable speech I would hope all of your listeners and readers will read up on where he said what’s going to happen is, we’re going to cause a bubble to occur in the mortgage market, and because it’s going to affect all, it’ll be like a virus spreading around the entire economy. So when the bubble bursts, the consequences are going to be absolutely catastrophic. And Ron Paul was right. Of course, he was saying that at the same time that others were attacking any Republicans that were against this as being racists for not wanting people of color to have the same opportunities that others had.
Read more: http://newsbusters.org/blogs/noel-sheppard/2011/11/18/joe-scarborough-talks-newsbusters-about-being-lone-conservative-host#ixzz1e44I3huT