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Thread: Fourth senator joins move to block Bernanke

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    Fourth senator joins move to block Bernanke

    A bipartisan effort to block the confirmation of Ben Bernanke to a second term as chairman of the Federal Reserve means the White House will face tougher obstacles reappointing the man it says is the right person to lead the country's central bank.
    A small ray of hope shines in Washington.

    Fourth senator joins move to block Bernanke | Raw Story
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    Re: Fourth senator joins move to block Bernanke

    How about we just legislate the FED out of existence?
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    Re: Fourth senator joins move to block Bernanke

    I would like to see him kicked out...but seriously, who would we put in place other than him? It's going to be someone from the same cloth. Sure the People are pissed off, but the politicians aren't going to listen to us. They'll just do what they have done for some time now...maintain the status quo.
    You know the time is right to take control, we gotta take offense against the status quo

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    Re: Fourth senator joins move to block Bernanke

    Quote Originally Posted by American View Post
    How about we just legislate the FED out of existence?
    In situations like this, it takes baby steps.
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    Re: Fourth senator joins move to block Bernanke

    Quote Originally Posted by American View Post
    How about we just legislate the FED out of existence?
    reminds me of the maxim about throwing the baby out with the bathwater

    but the fed authority and purpose do need an extensive revisiting

    the following is touted on the fed's on web site describing itself

    The Federal Reserve System is considered to be an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive branch of government. The System is, however, subject to oversight by the U.S. Congress.
    http://www.federalreserve.gov/pf/pdf/pf_1.pdf

    the above emphasis is mine. it appears the fed is strongly resisting the Congressional oversight, the prospective GAO auditing, which is now under consideration

    the lame objection is premised upon the conjecture that the fed's independence would be limited by the transparency resulting from the audit. in no way would knowing the fed's actions diminish its authority ... unless thru the audit it was found that more limits are legislatively needed. my surmise it the fed realizes that its warts would be exposed by a GAO audit, and needed curbs would be legislated. in short, the fed's resistence to an audit appears self serving

    a central banking role is needed, which is why i oppose the suggestion to eliminate the organization. but it seems fresh eyes are needed to review the functions and authorities of the federal reserve bank

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    Re: Fourth senator joins move to block Bernanke

    Quote Originally Posted by Ikari View Post
    I would like to see him kicked out...but seriously, who would we put in place other than him? It's going to be someone from the same cloth. Sure the People are pissed off, but the politicians aren't going to listen to us. They'll just do what they have done for some time now...maintain the status quo.
    Quote Originally Posted by Ikari View Post
    Everything the government does, it has done because the People have authorized it.
    Lol.........
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