Ron Paul Put In Charge Of Federal Reserve Oversight

from the this-could-get-interesting dept

Mon, Dec 13th 2010 3:24pm — Mike Masnick

As things shift around in the House of Representatives following a switch in party leadership, there's usually lots of big talk about change, but the end result is usually more of the same, with a slightly different emphasis, and perhaps different language to play up or minimize what the "other guys" wanted -- even though, in general, the policies are all pretty similar. However, there is one interesting move that's been made: Ron Paul has been put in charge of the Domestic Monetary Policy Subcommittee, which is the group that oversees the Federal Reserve. That's going to be fascinating to watch, since Ron Paul has been a very outspoken critic of the Federal Reserve itself, and has, in the past, introduced legislation to abolish it, as well as to run a full audit of the bank's operations. It's a shame how few people actually understand how the Fed works (and how much of an impact it has on the overall economy), but it might be in for a serious shakeup for the first time in ages.

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Filed Under: federal reserve, ron paul

24 Comments

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DMNTD, 13 Dec 2010 @ 3:36pm

onward..
yay.
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Derek Bredensteiner (profile), 13 Dec 2010 @ 3:41pm

Holy Crap.
Holy Crap.
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Anonymous Coward, 13 Dec 2010 @ 4:07pm

Re: Holy Crap.
holy crap indeed
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Rooker, 13 Dec 2010 @ 4:19pm

Wrong committee
I wish they'd put him on the intelligence oversight committee or whichever committee oversees Homeland Security and/or the FBI. I can't stand most Republicans but I love what Ron Paul has to say about civil liberties, terrorism and the Wikileaks situation.
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Anonymous Coward, 13 Dec 2010 @ 4:28pm

Ron Paul, bit *ches.
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Dark Helmet (profile), 13 Dec 2010 @ 4:32pm

Should be fun...
Jim Marrs has a few books out w/an interesting take on the Fed as a "conspiracy" of thoughts....
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Anonymous Coward, 13 Dec 2010 @ 4:39pm

Ron Paul was put there by the Republicans not to do good, but rather to try to screw up anything that the Obama administration might try to do to improve things.

Quite simply, the Republicans aren't there to make things better, they are there to make things worse, while dumping all the blame on the Obama adminstration. Call it grid lock with a purpose. The only things that will happen will be those things in line with the Republican way of doing things, and even then, they will figure out a way to pin that on the President too if it doesn't work out.

As a bonus for the Republicans, they get to hang Ron Paul out to dry at some point along the line, so he won't get in the way of Princess Sarah getting nominated.

It is incredibly dirty politics, and the next two years will only be worse.
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Anonymous Coward, 13 Dec 2010 @ 4:42pm

Yeah, Paul is being put there just to screw things up. Uh huh...
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Steven (profile), 13 Dec 2010 @ 4:44pm

Interesting times
Well it's hard to say that we don't live in interesting times.
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angelwolf71885 (profile), 13 Dec 2010 @ 5:15pm

Re: Holy Crap.
if it can be holly-ed can it then be excommunicated?

also the Federal reserve is alot like that Federal bank the Thomas Jefferson our greatest president ever abolished

so im with Ron Paul lets cut out the middle man and the cancer down with the fed
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B Andrews, 13 Dec 2010 @ 5:38pm

Ron Paul Oversight committee appointment
Pray for him, and for our country.
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B Andrews, 13 Dec 2010 @ 5:39pm

Ron Paul Oversight committee appointment
Pray for him, and for our country.
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Anonymous Coward, 13 Dec 2010 @ 6:50pm

yay, im not even american but he's about the only person in the american goverment who i can listen to, through to the end of his speech
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Anonymous Coward, 13 Dec 2010 @ 6:51pm

Re:
Paul won't think he is screwing things up, but the Republican party knows that he has ideas mostly far out of the political box, such that nothing will get done. Think of him as the stick in the spokes.

It is absolutely perfect if you are a Republican trying to get Palin in the White House in 2012.
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Mr Big Content, 13 Dec 2010 @ 9:54pm

Talk About Putting The Chickens In Charge Of The Fox-House
Do they really expect those who celebrate Thanksgiving to vote for earlier turkeys?
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Chris Rhodes (profile), 13 Dec 2010 @ 10:10pm

Re:
I think it's more the fact that the Republicans have been blocking him for quite some time now (even though he has seniority), but now that they were voted back into some semblance of relevancy, they are scared shitless that their fragile alliance with the tea party types will come crashing down if they don't at least start to look like they are playing ball.

I hope so, anyway. Maybe I'm an optimist.
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Anonymous Coward, 14 Dec 2010 @ 5:14am

Re: Re:
Palin is a guaranteed loser for the Republicans. She makes W look like a Rhodes scholar.

Her poll numbers keep getting worse and last I heard she was around 60% negative. The more people see of her the less they like besides she was too lazy to stay in office for a full term in Alaska.
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Chuck Norris' Enemy (deceased) (profile), 14 Dec 2010 @ 6:26am

Secret Service
I hope he watches his back. JFK tried to mess with the Fed and a few weeks later...
/conspiracy
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Hephaestus (profile), 14 Dec 2010 @ 7:05am

Hoo-ah!! no QE3 !!!!
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Anonymous Coward, 14 Dec 2010 @ 7:48am

Since Ron Paul doesn't believe in the Reserve he will be soooo effective. Good way to guarantee nothing will change.
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Tom Landry (profile), 14 Dec 2010 @ 3:46pm

Its also a shame that Republicans and GOP pundits think of Ron Paul as a crackpot when his own political beliefs are closer to what Republicanism has always been than what we see nowadays.

I am happy he now has a position where he can effect some measure of change (or one would hope).
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AW, 14 Dec 2010 @ 9:40pm

As a liberal opposed to the idea f the Fed Bank, hopefully he can do some good. His position on civil liberties is important in America, but he is still a nutbar.
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justbite_me (profile), 15 Dec 2010 @ 12:51am

Re: anonymous coward
You talk a good game, but so do the faggot lovin' DemocRATS.
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justbite_me (profile), 15 Dec 2010 @ 1:13am

Ron Paul
According to Homeland Security Chief Janet Napalatano if a person likes guns, is anti-abortion, a military veteran, that person can be described as a Right Winged extremist. Also if the cops saw a "Gadsen Flag or a Ron Paul" bumpersticker on your car it was pull over time. So, as a card carrying Right Winged extremist I will vote and have confidence in Ron Paul's abilities to handle The oversight committee governing the Federal Reserve.
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