Senate hearings for the reconfirmation of Federal Reserve Chairman Ben Bernanke started this week. He is expected to be reconfirmed. Aside from a few Republican Senators, criticism seems to be light. Senator Jim De Mint of South Carolina almost identified the problem. In an exchange with Bernanke (see the video here), De Mint asks...
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In a clear case of the Empire striking back, Mel Watt, a Democrat from North Carolina, who chairs the domestic monetary policy and technology subcommittee of the House Financial Services Committee has “gutted” H.R. 1207, the bill to audit the Federal Reserve. Some possible motivations for Mr. Watt’s actions come from American Banking News....
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Congressman Ron Paul’s new book, “End The Fed” is an excellent book, especially if you’re of a libertarian mind. If not, there are still several good arguments for the abolition of the Federal Reserve Bank that could have mass appeal. Speaking as one who was sympathetic with Dr. Paul’s rEVOLution in 2008, I can...
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There’s been a couple of important developments this week that have gone almost unmentioned in the press regarding the Federal Reserve. Nearly simultaneously with the announcement that Ben Bernanke will be renominated for another term as Chairman, a court case was being decided in New York. The case, Bloomberg LP v. Board of Governors...
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In 2007, a book was published called The Panic Of 1907 as a way of documenting the crisis on it’s 100 year anniversary. My original interest in the 1907 panic is that it was the last in a series of panics that led to the creation of the Federal Reserve System. Although the authors...
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Way back during the Bush Administration, when bailouts were measured in mere billions of dollars, many writers in the economic field warned of the “moral hazard”. The idea is that when failure is rewarded, those that have failed will have learned nothing and will continue their failing ways. Evidence of the truth of this...
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