Tornado Alley (PROG)

[ieddyi]

. Senator Ron Paul- says the issue of potential price fixing is reminiscent of the Great Depression; says we need to avoid price fixing; says idea of credit creation is not the answer; says efforts so far are to keep prices up but the natural flow of the market is for prices to fall and housing prices should be allowed to fall; asked where the authority comes from for the $700 bln: Bernanke says there is not going to be any price setting; one needs to balance intervention with economic collapse; notes banks were allowed to liquidate which was not helpful; does not expect inflationary pressures from the act; says Treasury has the authority from Congress to precede with this.

Paul is spot on here- too bad his foreign policy is just not workable

It would in essence be price fixing- the toxic debt we taxpayers will be buying will have to be overpriced or the bailout won't work the companies would go under anyway