Ron Paul to oversee The Federal Reserve

Ron Paul to oversee The Federal Reserve Scotty Starnes | December 10, 2010 at 11:00 AM | Tags: 112th Congress, bailouts, Ben Bernanke, Fannie Mae, Freddie Mac, GOP, House Domestic Monetary Policy Subcommittee, House Financial Services Committee, John Boehner, monetizing debt, Ron Paul, Ron Paul (R-Tx), The Federal Reserve | Categories: Uncategorized | URL: http://wp.me/pvnFC-3Lm

Ben Bernanke is pissing all over himself. Ron Paul (R-Tx) has been calling for an audit of The Federal Reserve for years. It's time to expose American taxpayers to the truth about what the Fed has done with our money and who has benefitted from their monetary schemes.

From The Washington Post:

Texas Republican Rep. Ron Paul is poised to chair the House Domestic Monetary Policy Subcommittee, putting the gavel of the panel overseeing the Federal Reserve into the hands of one of the central bank's most outspoken critics.

Rep. Spencer Bachus (R-Ala.), the incoming chairman of the House Financial Services Committee, announced Thursday that Paul will head the subcommittee when Republicans assume the majority in the 112th Congress.

"This is the leadership team that crafted the first comprehensive financial reform bill to put an end to the bailouts, wind down the taxpayer funding of Fannie Mae and Freddie Mac, and enforce a strong audit of the Federal Reserve," Bachus said in a statement, adding that the committee's "first priority is to end the taxpayer funded bailout of Fannie and Freddie."

On Wednesday, a group of about 30 tea party-aligned groups wrote a letter urging Bachus and House Speaker-designate John Boehner (R-Ohio) to support Paul's bid for subcommittee chairman. The letter was in response to reports that GOP leaders were mulling ways to block Paul from becoming chairman over concerns that his views are too radical.

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