Zimbabwe Ben Gets Congressionally C%^*blocked by Ron Paul
Naturally! You didn't think Zimbabwe Ben would get off that easy, now did you?
I have a proposal for old ZB. Let's run away to Jekyll Island for our shared birthday this year, you bring the helicopter and I'll bring the bitchslap hand. *fap*! It'll be awesome.
Think it over and get back to me, ZB. I'll even clue you in on my latest scheme to come after your criminal ass. Within reason, of course.
In a letter they will send to Senate Banking Committee Chairman Christopher Dodd this afternoon, Reps. Ron Paul (R., Tex.) and Alan Grayson (D., Fla.) will ask that the Senate hold off on Federal Reserve Chairman Ben Bernanke’s confirmation hearing until the central bank releases more information about its rescues. (Read the full letter.)
It is up to the Senate and not the House to confirm the Fed chairman, and the congressmen’s letter might not carry much weight in the neighboring chamber. Still, it is a sign of the potentially hostile environment Mr. Bernanke could face when he returns to Congress in the weeks ahead to defend his policies in confirmation hearings. Mr. Paul has won broad support in the House for a bill that would subject the Fed to audits by Congress’s Government Accountability Office.
The lawmakers offer a long list of disclosure demands, including a call for more information on which financial firms have received emergency Fed loans in the past year and transcripts of Federal Open Market Committee meetings up to June 2009. Transcripts are released with a five year league. The Fed has resisted calls for information about firms receiving its loans for fear it will stigmatize them in markets and make them and others reluctant to turn to the central bank in a time of crisis.
Both congressmen have been sharp critics of the Fed.
This is going to be interesting. If the Fed did have a comment, it would probably be something like "get off of our nuts already."