Posted on 11/29/2009 12:03:58 PM PST by FromLori
The chairman of the Federal Reserve is concerned that congressional efforts at financial reform could weaken the central bank's ability to handle future crises and may politicize monetary policy.
Fed Chairman Ben S. Bernanke made the comments in an Op-Ed article in Sunday's edition of The Washington Post, five days before the Senate banking committee holds a hearing on his nomination for a second term. His current four-year term expires Jan. 31.
Mr. Bernanke wrote that the nation is challenged to design a financial oversight system that will "embody the lessons of the past two years and provide a robust framework for preventing future crises and the economic damage they cause."
But two proposals being considered "are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the United States," he said.
The first item in question is a bill before the Senate that would strip the Fed of its bank regulation authority and give the Senate a role in selecting the 12 regional Federal Reserve bank presidents, proposed by Sen. Christopher J. Dodd, Connecticut Democrat, who is chairman of the Senate Committee on Banking, Housing, and Urban Affairs.
(Excerpt) Read more at washingtontimes.com ...
Translation: the cops are hot on the Bankster trail and their frontman is feeling the heat.
Tar , feathers , rail!
But dodd’s bill has no teeth anyway so it is pretty much smoke and mirrors to soothe the populace.
Better the Fed weakened than what bastards have done to America.
He says that like its a bad thing. Weaken them from being able to fix problems, and it also weakens their ability to cause problems.
Interesting commentaries from that Paul site...
But the point remains the same - Bernanke is the head of a corrupt institution whose main purpose is to make a few groups hyper rich while indebting and impoverishing everyone else.
The fact that the game might be up this time is distressing to them and they are in full Damage Control mode.
People who threaten government into disregarding the will of the American people need to be weakened considerably.
Down with the Fed. It is not part of Congress and its time Congress does its job. Coin/Print money, Not manipulate markets.
He says that like its a bad thing. Why do we need the fed to print money??? The treasury can do that all by itself. Lets bring back those red seal dollars baby !!!
:)
“Better the Fed weakened than what bastards have done to America.”
Obama and Berneke have been trying to lead us into a third world government by stealth, and so far they are suceeding.
America should make a stand against it.
“Better the Fed weakened than what bastards have done to America.”
Obama and Berneke have been trying to lead us into a third world government by stealth, and so far they are suceeding.
America should make a stand against it.
We’re going to have to and better sooner than later!
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