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Monday, August 8, 2011

Ron Paul: Credit Rating Downgrade "Political Theater To Build Up The Fear"

By Colby Hall

Texas Representative and GOP Presidential hopeful Ron Paul is nothing if not an iconoclast in the Republican party on a number of issues, and during an appearance
this morning
last month on Bloomberg News, he continued his tendency to strike a contrarian note by openly questioning the material import of the S&P’s recent credit downgrade.

 Paul questioned the overall value of these ratings services, noting that they all missed the market crisis from sub-prime mortgages three years ago before suggesting that the weekend downgrade was “political theater to build up the fear.” FULL STORY