Ron Paul: Bernanke's defense of the Fed a 'hoax'Submitted by bobbyw24 on Tue, 12/01/2009 - 10:58
Fed Chairman Ben Bernanke's warning that efforts to regulate the board would "impair" the economy are a "hoax," Rep. Ron Paul (R-Texas) said Monday night.
Responding to Bernanke's op-ed in the Washington Post this past weekend, in which the Federal Reserve chairman said that Paul's bill to audit the Fed would harm the U.S. economy, the Texas congressman accused Bernanke of dodging responsibility for his role in causing the recession.
"He claims that they're rescuing, and making things better. But he takes no responsibility for causing all the problems," Paul said during an appearance on the Fox Business Network Monday evening.
"So I think it's a hoax for him to talk about financial stability," the libertarian Republican added. "I mean, how could it get much worse?"