Ron Paul finds support for Fed audit-Reuters
Outsider Ron Paul finds support for Fed audit
Fri Sep 4, 2009 10:10am EDT
By Andy Sullivan
WASHINGTON (Reuters) - After decades of pushing long-shot causes like abolishing the income tax and reinstating the gold standard, Republican Representative Ron Paul finds himself in an unaccustomed spot: on the cusp of legislative victory.
A majority of the libertarian-leaning Texan's colleagues in the House of Representatives support his proposal to increase congressional scrutiny of the Federal Reserve, and the measure could be included in a broader banking overhaul this fall.
But don't expect the House to take up Paul's other pet causes, such as pulling out of the United Nations.
Experts say the success of his Federal Reserve Scrutiny Act reflects rising unease with the central bank's dramatic actions over the past year, rather than any increased influence stemming from Paul's quixotic 2008 presidential bid.
"He's finally found the right moment," said Sarah Binder of the liberal-leaning Brookings Institution.
Paul's spokeswoman Rachel Mills agrees: "His bill happens to be in the right place at the right time."
http://www.reuters.com/article/politicsNews/idUSTRE5833R5200...
The writer gives tepid recognition
while gritting teeth.
From the article:
"Voters also have their suspicions. A Gallup poll in July found that only 30 percent thought the Fed was doing a good job, the worst of all government agencies measured.
"I think it's tapped into a very general deep suspicion about the secrecy of government," said Mark Calabria of the libertarian Cato Institute."
I am wondering when the FED became a government agency?
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I love my country
I am appalled by my government
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I love my country
I am appalled by my government