The Fed Fighter: DealBook’s Ron Paul Interview

The fallout from the credit crisis has put the financial system of the United States under a microscope. Banker pay, lending practices and regulatory oversight are now topics of mainstream interest for the first time since the Great Depression.

As Congress debates whether or not to give more power to the Federal Reserve to watch over the financial system, Ron Paul, the Republican congressman from Texas, is arguing, as he has for years, for the government to go in the opposite direction and actually cut the Fed’s powers.

In an interview with DealBook on Thursday, Mr. Paul discussed his new book, “End the Fed,” as well as his views on Wall Street.

The outspoken lawmaker contends that the government is essentially controlled by the Fed and in collusion with Wall Street, and has created an unsustainable economic system through the excess printing of money. He predicts that the system will eventually break down and the dollar will collapse, creating economic chaos.

Here are edited and condensed excerpts from DealBook’s talk with Mr. Paul.

Full article here