“Rand Paul and Ron Paul, the dynamic duo of anti-Fed forces, invested a lot of time and money trying to get that legislation passed. But even if it reached Barack Obama’s desk, it would have been vetoed. Of course, the Fed pushed back against the legislation. Fed Chairman Janet Yellen penned a letter to senators before the vote claiming that the legislation would deprive the Fed of necessary independence. She also noted that passing the legislation might generate an inflation scare and cause interest rates to rise. One wonders if this was a subdued threat.”
http://www.thedailybell.com/news-analysis/36736/Audit-the-Fed-Legislation-Sinks-Plan-Accordingly/
Related posts:
White House refuses to accept that NSA phone dragnet is illegal
30,000 people can access Ohio driver’s license database with no oversight
A Congressman who Doesn't Cotton to the Constitution
61.2% Voted For Nobody
The Larger the Deficit, the Greater the Default
Synchronized Drone Swarm Takes Flight in Austrian Sky
Petition To AIPAC: Stay Out Of Our Foreign Policy!
The Strange Case of Lagarde, Influence Peddling and the IMF
Obama Berlin Speeches: 2008 vs 2013
Thousands of US Troops Arrive Near Syrian Shore on USS Eisenhower
Serial Offender: Miami Fed. Prosecutor Called on Misconduct in Drug Cases
FTC can sue companies with poor information security: U.S. court
Krugman: "The Employment Story is Highly Unimpressive"
Police State 101, Torture Impunity, Obama's Second Chance?
UN Commission Investigator: It Was The Syrian Rebels Who Used Sarin