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Ron Paul and Alan Grayson Agree on Bernanke; Second Term in Question?

Posted on | October 26, 2009 | 3 Comments

Ron Paul and Alan Grayson do not often agree but on the issue on Federal Reserve Bank Chairman Ben Bernanke they have joined together.  The two congressmen feel that there should be a delay when it comes to electing the current Fed Chairman to a second term.  Paul and Grayson sent a letter to Senate Banking Committee Chair Christopher Dodd asking for documents to be released “that will allow the public and the Senate to have a full understanding of the commitments that the Federal Reserve has made on our behalf.”  Interestingly, Senator Dodd currently holds the position the former economic advisor to Ron Paul’s presidential campaign, Peter Schiff, is after.

The letter brings up many of the mistakes that the Fed has made when it comes to monetary policy and printing large sums of money to lend to financial institutions.  Not only has the Fed bailed out AIG and GM, but they have also given money to financial institutions who have overvalued assets and a lock of lending practices.  The letter also asks the Fed to release documents on the Bear Stearns rescue and the merger of Bank of America and Merrill Lynch.

Ron Paul has been adamant about auditing the Fed and if these documents are released this will be the beginning of what Ron Paul has hoped for.  At this time, the House Financial Services Chairman Barney Frank has supported Dr. Ron Paul’s idea to create a mandatory audit of the Fed.  The hard work that Ron Paul has put in is starting to pay off and the American public is reacting.

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Author: Jesse Wojdylo

Category: Current News

Comments

3 Responses to “Ron Paul and Alan Grayson Agree on Bernanke; Second Term in Question?”

  1. Dan
    October 26th, 2009 @ 7:15 am

    Support H.R. 1207!

    Audit the Fed, then End it.

  2. Brian
    October 26th, 2009 @ 7:22 am

    There is every reason to suspect Bernanke’s ability to handle this crisis, considering he was at the helm when it occured, and only days before the meltdown was telling everyone that we were in good shape as a country economically, and that the fundementals of our economy were strong.

  3. The Financial Suite » Ron Paul and Alan Grayson Agree on Bernanke; Second Term in Question?
    October 26th, 2009 @ 8:54 am

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