Barney Frank is an Idiot and Shouldn't Speak About the Fed Ever Again
Listen, I really wanted to give this post a serious title, I swear. But WTF. Shut up already, Barney, for the love of all that is sacred and holy in this Godforsaken world. Please!
Rep. Frank eyes Fed audit, emergency lending curbs (via Reuters):
In congressional testimony on July 22, he signaled a willingness to work toward a middle ground. "We are quite willing to work with Congress to try to figure out exactly where the line should be," he said.
Frank said the House legislation would pave the way for an audit to look into what the central bank "buys and sells," but he said the data would be released after a period of several months to avoid impacting financial markets.
Bernanke is widely expected to win needed Senate backing for a new term as Fed chairman, but the central bank's aggressive efforts to stem the financial crisis have stirred controversy that is likely to color his re-nomination hearing.
His current term expires on January 31, 2010.
Blah blah blah blah blah. Reuters must be hard up for some content eh? Apparently so am I if I bothered to share this. Whatever.