Five minute clip from the House floor, July 21. Paul takes on Bernanke. He makes an excellent point that the Fed's monetary policy is already politicized by White House influence, so Bernanke's claim of Federal reserve independence is bogus.
That said, I'll repeat myself. I do not think it's a good idea for Congress to get involved with interest rate decisions. The reasons are pretty obvious. Let's get an audit of the books, learn a little something about Maiden Lane, the Bank of America $118 billion ring-fence and the Citigroup $300 billion asset guarantee. For starters.
Seventy-five percent of Americans now support an audit of the Fed. Click here to quickly contact your Senators and tell them to get moving on the Fed audit. You can do a lot with 60 seconds and 5 clicks of your mouse.
This is an outstanding clip.
