And still more from Ron Paul on the bailout

"I think understanding the Great Depression is one of our problems - or the lack of understanding of the depression. Because, generally, most of what people are taught these days is it was the lack of credit in the 30s that caused the prolongation of the depression. They never talk about the excessive credit and misallocation, the malinvestment of the 20s, that precipitated the bubble that had to be corrected."