Congressman Paul Questions Former Fed Chairman Volcker
...
Volcker mentioned in his opening remarks that the United States suffers from overconsumption, and that we cannot sustain the current build up of debt. He postulated that consumers could be realizing that fact and shifting spending habits accordingly.
...
Congressman Paul pointed out that the roots of the current crisis are a misunderstanding of capital and debt, over-regulation rather than under-regulation, and the Federal Reserve’s distortion of the marketplace with artificially low interest rates and promises of bailouts which encourage malinvestment and irresponsible behavior among banks.
...
