0 votes

Fed Bashers: Washington's Odd Couple

By Nina Easton | Fortune
January 25, 2010


The anti-fed stances of Ron Paul (left) and Bernie Sanders resonate with many on Main Street.

(Fortune Magazine) - "These are vulgar, obscene people who, in many cases, I really do believe, have serious emotional problems. In this country we have people who have drug problems, people who have alcohol problems."

Just who are the addicts that Bernie Sanders, his white hair mussed, is getting all worked up about on this frigid Washington afternoon? "Compulsive moneymakers," he says. And Sanders, Vermont's independent junior senator and a onetime college radical who still pockets an authentic 1920 EUGENE DEBS FOR PRESIDENT key chain, is just getting started.

He saves his most biting criticism for a man who stands accused of embracing, coddling, and enabling Wall Street's rampant greed: Federal Reserve chairman Ben Bernanke. "There's no doubt that Bernanke is Wall Street's guy," the senator says icily. Sanders wants to block a second Bernanke term, insisting the Fed chief has presided over a financial system that "has not been as unsafe, unsound, and unstable since the Great Depression."

On the other side of the Capitol, Rep. Ron Paul, the Texas obstetrician-turned-gold-bug, peddles his own blistering critique of Bernanke and the Fed. For three decades the libertarian Republican and former presidential candidate has blamed Federal Reserve monetary policy for creating destructive business cycles.

Continue at Fortune



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Fantastic photo....

Ron looks like and old Mafioso the only thing that's missin' is the sweat suit.....lol

“The Internet is the first thing that humanity has built that humanity doesn't understand, the largest experiment in anarchy that we have ever had." - Eric Schmidt

Cute pic! :-)

Cute pic! :-)

Great Photo

Peter Yang nailed it with the photo. Classic!

photoshopwiz's picture

front page huffpo

~
Fed E-Mails On AIG Show Disdain For Transparency
http://www.huffingtonpost.com/2010/01/25/fed-e-mails-on-aig-...
____

kick ass david dees fed illustration ...
http://tinypic.com/view.php?pic=2141ddw&s=6

Interesting!

Found this there too.

http://www.youtube.com/watch?v=cQyFxBG6dhY

Charles Biderman, founder and CEO of TrimTabs Investment Research, discusses the possible role of US governmernt cash in the current stock market rally with Bloomberg's Lori Rothman.

nice!

Thank you - great find.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Wow

A nice combination. Bernie Sanders the attack dog gets everyone's attention and then Ron Paul explains reasonably in a best selling book why they should be concerned. They could do a road show together based on this.

Nice that they mentioned Andrew Jackson too-planting the idea that this has all been done before by a great American, so it really is not crazy at all.

Thanks for the link Cyric30.

Very Interesting article

bump for discussion.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

What a Difference a Year Makes

Quote:

And Paul's critiques of Fed policy have proven remarkably prescient. At a 2004 House hearing, he accused Greenspan of "delaying the inevitable, the pain and suffering that must always come" after a period of loose money, and complained that the Fed was discouraging savings and encouraging "a free ride." Three years later, in 2007, Paul told Bernanke that "we not only have had a subprime market in housing; the whole economic system is subprime in that we have artificially low interest rates."

What do you think? http://consequeries.com/