Ron Paul appeared on yesterday’s Freedom Watch with Andrew Napolitano. Freedom Watch is a web only news show hosted by former Judge Andrew Napolitano.
Ron Paul is right we should have allowed GM to go bankrupt months ago. Keeping GM alive these several months was just a waste of money but then maybe it is cheaper than unemployment insurance for all those workers. Ron Paul is right to say that the Republican Party has given up the right to provide opposition to these bailouts by supporting them when George Bush was in power.
The argument often made in favor of why Republicans supported the bailouts is that we were in an emergency and something had to be done. Yes, we were in a bad situation but there is little evidence that government action has helped to solve the crisis. The Government always uses emergencies as an excuse to take on more power and do things that the people would not normally approve of.