Wash. Post: Bernanke's Latest Headache Is Ron PaulSubmitted by bobbyw24 on Thu, 12/09/2010 - 18:51
Ron Paul to chair monetary policy subcommittee overseeing Fed
By Felicia Sonmez
Posted at 4:34 PM ET, 12/9/2010
On Wednesday, a group of about 30 tea party-aligned groups wrote a letter urging Bachus and House Speaker-designate John Boehner (R-Ohio) to support Paul's bid for subcommittee chairman. The letter was in response to reports that GOP leaders were mulling ways to block Paul from becoming chairman over concerns that his views are too radical.
In the letter, the groups warned that the "implied message" of blocking Paul would be "one of indifference towards the concerns of those who helped put the Republican Party back in the majority."
Paul has been a harsh critic of the Federal Reserve and has pushed for measures that would audit the central bank or abolish it altogether. The subcommittee also has jurisdiction over "precious metals," and Paul has advocated a return to the gold standard.