Sanders to vote for Paul's 'Audit the Fed' bill

[cali]

Sen. Bernie Sanders (I-Vt.) on Tuesday plans to back legislation from Sen. Rand Paul (R-Ky.) that would subject the Federal Reserve to a comprehensive audit, according to his office.

The vote will put Sanders in rare agreement with a rival presidential candidate in the Republican Party.

In the past, Sanders worked with Paul's father — former Rep. Ron Paul (R-Texas) — on a version of the "Audit the Fed" legislation. Sen. Paul is carrying the torch for that bill, adopting it as a focal point of his presidential run.

Sanders, a noted critic of big banks, hopes to make it back to Washingon from the campaign trail for the Tuesday afternoon vote. Most Democrats are expected to vote against the measure, which is opposed by the Fed as well as the White House.

<snip>

In December, Sanders wrote in The New York Times that the Fed is in need of fundamental reform, arguing the institution had been “hijacked” by Wall Street banks.

<snip>
http://thehill.com/policy/finance/265556-sanders-to-back-audit-the-fed-bill

[PowerToThePeople]

1. K&R. n/t

[jonno99]

2. Audit the Fed? Sounds good to me...nt

[underthematrix]

5. Really? What do you think the Fed does?

[jonno99]

6. Well, it all sounds pretty complex. Why don't you explain why the fed shouldn't be audited.

What is the argument against?

[FlatBaroque]

9. well played

[Bernin4U]

3. It's dead, Jim.

Interesting, but already voted down.

[underthematrix]

4. This really brings to the surface my intense hatred of Bernie Sanders

Bernie has simplified a very complex issue. The Senate said no.
http://thehill.com/blogs/floor-action/senate/265589-senate-rejects-pauls-audit-the-fed-push

[cali]

7. Wow. You intensely hate him?

[Cali_Democrat]

10. Aren't you the one who thinks Hillary is despicable? nt

[cali]

11. I don't hate her. And I defend her fairly frequently.

[Cali_Democrat]

13. Definition of despicable:

http://dictionary.cambridge.org/us/dictionary/english/despicable

deserving to be ​hated or ​strongly ​criticized:

So you think she deserves to be hated, but you don't hate her.

Okie dokie....

[LexVegas]

17. Ouch. nt

[AlbertCat]

22. or ​strongly ​criticized:

Maybe he thinks she should be strongly criticized.

All these "haters" accusations at Sanders' supporters. (They seem to take criticism of their goddess personally.)


And then we get "my intense hatred of Bernie Sanders" posts. Hypocrisy? Maybe more like projection.

You'd think this was a religious war or something. It's all so ridiculously personal for some.

[Cali_Democrat]

23. And if I called Bernie Sanders despicable...

Surely you'd be just as understanding...

[underthematrix]

19. Yes. These are the sort of things Bernie does that makes me hate him

But I'm African American, which means I'm pragmatic and smart. I will vote for him in the general even if I hate him.

[Dawgs]

8. What changed between August and now with Bernie?

Do you intensely hate him because of his supporters? Pretty stupid if that's the reason.

http://www.democraticunderground.com/?com=view_post&forum=1251&pid=539333

i happen to like Bernie but I really can't stand Bernie's supporters. Bernie is not my first or second choice candidate but I would vote for him if I had to. But unlike Bernie supporters, I would not badmouth him once he became President because I know Presidenting is harder than shit.

My guess is that's it's something else.

[underthematrix]

20. No. No. No. the article did not mention his supporters

And yes I can't stand Bernie's supporters. But I was only referring to the point of the post, which was the absolutely stupid idea of auditing the Feds. Geez. I wonder sometimes if Bernie is working with a full deck. I know Paul Ryan would author a bill like that because he's Palin stupid. But I didn't expect that of Bernie.

[demwing]

31. Why is it a stupid idea?

And who pissed in your oatmeal?

[underthematrix]

34. Because the Fed is an independent governmental agency

established by Congress to oversee our monetary policy and practices (banking system and other instruments). An audit by Congress would turn it into a political football and disrupt our ability to maintain a stable flexible monetary policy and system.

About the oatmeal. Why do you take other people's thoughts and feelings about Bernie so personally? This is not about you. It's about moving forward with the progress PBO has made over the past eight years and continuing and expanding it. It's about America.

[mmonk]

14. I hate people who sold me and my family down

the river for a campaign dollar. I guess everyone hates someone in one fashion or another.

[mmonk]

12. Good. I like sunshine. It's easier to see.

[MineralMan]

15. As is often said, Fuck Rand Paul!

His old dad, too. Fortunately, this nonsense will not pass. The same Republicans who have voted umpty-ump times to repeal ObamaCare are behind this Fed bullshit.

Just screw off, Rand Paul. Thanks so much.

[questionseverything]

16. what is wrong with transparency?

[NCTraveler]

18. I stand with Obama and Elizabeth Warren on this one.

This is the independents version of the republicans repeatedly trying to abolish the ACA. Give it a break. Like Reid said, this legislation is a "sham."

Durbin-Ill.) told The Hill while he expected the vote would be close, “at this point I think it’s going to be difficult for the Republicans to get 60 votes.”"

http://thehill.com/blogs/floor-action/senate/265589-senate-rejects-pauls-audit-the-fed-push

Republicans fell short.

[underthematrix]

21. I stand with President Obama and EW too.

It's almost as if they never a history or econ textbook. Can you imagine what would happen if the Congress had oversight of our monetary policy. Can you imagine what would happen to our markets, the dollar as the global currency, our credit rating?

[Duppers]

24. ELIZABETH WARREN is also backing Audit the Fed bill.

Folks here going to trash her too?

[bigtree]

29. no, she isn't backing this bill

Sen. Warren Opposes ‘Audit the Fed’ Bill

from the WSJ:

Sen. Elizabeth Warren (D., Mass.), a member of the Banking Committee and an outspoken critic of the Fed’s oversight of big banks, said she does not support Mr. Paul’s proposed legislation, which she said could have “dangerous” implications for monetary policy.

“I strongly support and continue to press for greater congressional oversight of the Fed’s regulatory and supervisory responsibilities, and I believe the Fed’s balance sheet should be regularly audited – which the law already requires,” Ms. Warren said in an emailed statement. “But I oppose the current version of this bill because it promotes congressional meddling in the Fed’s monetary policy decisions, which risks politicizing those decisions and may have dangerous implications for financial stability and the health of the global economy.”

read: http://blogs.wsj.com/economics/2015/02/10/sen-warren-opposes-audit-the-fed-bill/

[demwing]

32. Only saw one DUer against the bill

For some reason it's a "stupid" idea - but the OP won't say why..

[Dying Eagle]

25. Good Job Senator but it does not go far enough

End the Federal Reserve. Its not just another too big, private big bank. Its the source of everything wrong with the disgraceful finance system in America. Managing the finances and Money should done by the Treasury Department.

[MeNMyVolt]

27. ^^^^ Example of my post below.

"End The Fed". Typical Paul '08.

[MeNMyVolt]

26. And another example of how he is not ready for prime time.

Maybe fellate the Paul/Trump supporters from a different angle?

[mhatrw]

28. I see a bunch of posts criticizing Sanders on this thread.

But I don't see a single coherent argument against auditing the Federal Reserve.

[bigtree]

30. probably because no one here is against that

...there are several proposals on the table to do so which deserve support.

However, the Paul bill which Sanders voted for is a sham; promising reform but, in effect, politicizing and undermining the independence of the Fed in setting monetary policy.

[mhatrw]

33. So when will be seeing that audit that EVERYBODY agrees on? nt