Liberty MavenMore Ron Paul from Financial Services Hearing yesterday…
July 17th, 2009 12:30 am | by Marc Gallagher | Published in Banking, Big Government, congress, Debt, Economics, Federal Reserve, government spending, Money, Ron Paul | 2 Responses
Ron Paul questioned Federal Reserve Governor Elizabeth Duke regarding transparency and an audit of the Federal Reserve. He asks directly how the information revealed with an audit could be harmful to the consumer. Naturally, Duke attempts to toe the standard line that the audit would “interfere” with monetary policy.
Ron Paul interrupts and corrects her saying that the audit has no intention of interfering with monetary policy, it would just reveal what they are doing.
His second round of questioning is also included in the clip below. He uses this time to attack the Fed as an institution that is actually harmful to the consumer.
Paul then has another chance to ask questions, this time to Jim Carr of the National Community Reinvestment Coalition (NCRC). Carr takes Paul’s question and runs down a predictable path with it. Paul also gets in a last question about support for a Fed audit.
(Thanks to Minnesota Chris for the videos)
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July 17th, 2009 at 5:31 am (#)
hey thanks for the videos! People keep screaming for more regulation when in fact regulation is flawed to begin with. Most employees of the SEC are former employees of the same corporations they are supposed to be "keeping under control". Let the market place decide who should survive. If these banks want to take the huge risks of lending and selling subprime Morgage backed securities and then have them default it is there own fault!! Don't bail them out and say we need to regulate them more. Let the banks who were smart enough to not take those huge risks eat up the rest of the failing bank industry. Regardless this is one huge complicated mess that only need one simple solution, yet the people who have been elected that can see this are too few. Sad sad days we are living in.
July 17th, 2009 at 5:34 am (#)
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