Ron Paul in Charge of Federal Reserve oversight

[DrRP08]

Sorry if this has been posted already:

"Here's a little irony in the House GOP sweep: The next chairman of the monetary policy subcommittee -- overseeing the Federal Reserve?

None other than Ron Paul (R-Texas), who'd just as soon abolish the Fed.

Paul is the ranking member of the Subcommittee on Domestic Monetary Policy and Technology on the Financial Services , which oversees the Federal Reserve, the U.S. Mint and American involvement with international development groups like the World Bank. Unless someone bumps him, he's next in line for the subcommittee gavel.

Paul is critical of all the institutions he would oversee. He's long called for killing the Federal Reserve, and this year tried to get an audit of the Fed into the Wall Street reform bill. He's asserted that the dollar should be tied to the gold standard in order to keep it from losing its value.

The committee has been low key under Rep. Melvin Watts (D-N.C.). His web site says he plans to hold hearings on "equal access by the visually impaired to U.S. coins and currency."

It's safe to say that a Paul chairmanship might be a little more intense.

The Republican Conference will vote on Paul leading the subcommittee, taking into consideration seniority and Republican leadership's preference. Paul's office didn't return a request for comment."

What exactly can he do with this title?

 

[MRoCkEd]

The Republican Conference will vote on Paul leading the subcommittee, taking into consideration seniority and Republican leadership's preference.

This worries me.

 

[Stary Hickory]

They had better give Paul this position. If they do not the GOP is off to a bad start. Facing reality is a necessity.

 

[nobody's_hero]

The committee has been low key under Rep. Melvin Watts (D-N.C.). His web site says he plans to hold hearings on "equal access by the visually impaired to U.S. coins and currency."

Ben Bernanke already has access.

 

[Daamien]

He will have subpoena power, but legislatively it won't make much of a difference seeing how all bills in his subcommittee will still have to go through the larger House Financial Services committee where he will not be chairman.

 

[Fozz]

Sigh.........the powers that be will once again keep Ron Paul out. Ill be shocked if they let Paul be the chair of this subcomittee

 

[tnvoter]

dont be negative yet plz

 

[ItsTime]

Would they want to piss off the Tea Party groups this soon?

 

[DrRP08]

Ben Bernanke already has access.

lol that was a good one.

 

[BuddyRey]

Wow. This would be huge news if it happened. Think of all the things RP could do to promote monetary stability, from standing between the fed and the congressional purse-strings to potentially rolling back legal tender laws.

 

[torchbearer]

Wow. This would be huge news if it happened. Think of all the things RP could do to promote monetary stability, from standing between the fed and the congressional purse-strings to potentially rolling back legal tender laws.