Old Project Avalon Forum (ARCHIVE) - View Single Post - HR 1207 UPDATES "The Federal Reserve Transparency Act"

peaceandlove · 07-24-2009, 07:00 PM

Ron Paul on Fox Business, 7/22/09

Posted by Matt Hawes on 07/24/09

VIDEOS (12:43 total): http://www.campaignforliberty.com/blog.php?view=22410

Bernanke says Fed can take on supercop role

Economics Writer – Tue Jul 21, 4:59 pm ET

WASHINGTON – Federal Reserve Chairman Ben Bernanke ran into skepticism Tuesday from lawmakers wary of expanding the Fed's duties to police big financial companies. They argued that the Fed failed to spot problems that led to the financial crisis in the first place.

"The Fed has made some big mistakes," said Rep. Spencer Bachus, R-Ala., ranking member of the House Financial Services Committee.

An Obama administration proposal to make the Fed the supercop of globally interconnected financial companies would be "just inviting a false sense of security that inevitably will be shattered at the expense of the taxpayer," Bachus warned.

Continues: http://news.yahoo.com/s/ap/20090721/...ge/us_bernanke

07-24-2009, 07:00 PM	#113
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: HR 1207 UPDATES "The Federal Reserve Transparency Act" Ron Paul on Fox Business, 7/22/09 Posted by Matt Hawes on 07/24/09 VIDEOS (12:43 total): http://www.campaignforliberty.com/blog.php?view=22410 Bernanke says Fed can take on supercop role Economics Writer – Tue Jul 21, 4:59 pm ET WASHINGTON – Federal Reserve Chairman Ben Bernanke ran into skepticism Tuesday from lawmakers wary of expanding the Fed's duties to police big financial companies. They argued that the Fed failed to spot problems that led to the financial crisis in the first place. "The Fed has made some big mistakes," said Rep. Spencer Bachus, R-Ala., ranking member of the House Financial Services Committee. An Obama administration proposal to make the Fed the supercop of globally interconnected financial companies would be "just inviting a false sense of security that inevitably will be shattered at the expense of the taxpayer," Bachus warned. Continues: http://news.yahoo.com/s/ap/20090721/...ge/us_bernanke Last edited by peaceandlove; 08-04-2009 at 06:48 AM.