Republican candidates unite on Fed attack

[alp227]

Source: Financial Times

Republican candidates for president squabbled over social security, foreign wars and the economy but presented a largely united front on one issue – the need to rein in the power of the Federal Reserve.

Rick Perry, the Texas governor who has been criticised for saying Ben Bernanke, the Fed chairman, has behaved in an “almost treasonous” manner in his management of monetary policy, declined to back away from his statement in Monday’s televised debate.

"I said that if you are allowing the Federal Reserve to be used for political purposes, that it would be almost treasonous; I think that is a very clear statement of fact,” said Mr Perry, the Republican frontrunner. “I am not a fan of the current chairman allowing the Federal Reserve to be used to cover up bad fiscal policy by this administration.”

The debate on Monday evening, held in Tampa, Florida, was co-hosted by CNN and the Tea Party Express, an umbrella organisation for the rightwing movement, bringing it firmly into the political mainstream ahead of next year’s presidential election.

Read more: http://www.ft.com/cms/s/0/0243237a-ddb7-11e0-b6db-00144feabdc0.html

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Google the title to read in full.

[boppers]

1. "Banksters": Universally hated.

They rank up there with lawyers.

[No Elephants]

3. Banksters earned it; Rethugs did a good job smearing lawyers. Let me know when a bankster

volunteers his or her time and money to sue to protect your civil rights, or to sue over torture.

[truedelphi]

7. Biggest Financial Firms gained some Nine to Thirty Trillions of dollars

With the help of the Paulson/Bernake/Geithner Federal Reserve. (Geithner having been in charge of the NY Fed when the Financial Crisis of Fall 2008 hit.)

And although these Nine Plus Trillions of offering to the Big Banks were loans, they were paid back with collateral of very dubious value. Investment papers they no longer want to hold on to is their idea of repayment.

Congress was supposed to oversee our money supply, and was not to ever let these responsibility be handed over to an entity that is both private and for profit to an inner circle of people. The Federal reserve is a cop out on their part.

Of course, now we are in a situation with Congress that many people sitting in those hallowed halls are merely the puppets of the big Money Entities called Corporations that put them there.

A lot of the Senators and Congress people do not have the vaguest idea of economic theories, and don't even understand simple banking and investment strategies such as "shorting" a stock.

[gateley]

2. Well, you can put a little (r) behind my name regarding this, because

I agree.

I think most Dems do, too.

[No Elephants]

4. Ignoring the rhetoric about the Rethugs' reasons, I am fine with reining in the Fed. And booting

Bernanke. And he can take Timmeh and the rest of Obama's economic team with him. And the horse they rode in on.

[cstanleytech]

6. The main problem isnt the team imo, Obama could fire all them and hire

people who advise him until they are blue in the face to raise taxes but the problem is congress and the senate because if the votes arent there in those 2 places he cant raise any taxes.

[cstanleytech]

5. I see that Nero "Perry" has been busy, to bad his state comes 2nd to his quest for power.