Judd Gregg: 'Political pandering' on Fed (Judd Gregg attacks Ron Paul)

Politico ^ | 2009-11-20 | Victoria McGrane

[rabscuttle385]

A top Senate Republican lashed out against lawmakers of both parties for supporting legislation that would audit the Federal Reserve, accusing the bipartisan group of “political pandering” to populist anger.

Sen. Judd Gregg, the top Republican on the Senate Budget Committee, says he’s worried that politicians on Capitol Hill are sacrificing the Fed’s historic independence because the Fed has become unpopular during the economic crisis.

“This move to bring the Fed’s conduct of monetary policy under the control of Congress is a grave threat to our economy. Congress has demonstrated time and again its inability to manage the nation’s fiscal policy, illustrated by our staggering national debt in excess of $12 trillion, so how can anyone think that its involvement in monetary policy would be good for the country,” Gregg said in a statement.

[who knows what evil?]

Take your lottery winnings and go home, Senator...

[vikk]

How ironic that a politician supporting the bankers is talking about pandering...

[Redleg Duke]

I am afraid that Gregg has stacked arms and is getting ready to live large off of his pension.

[what's up]

This move to bring the Fed’s conduct of monetary policy under the control of Congress is a grave threat to our economy

C'mon Gregg.

Everyone knows will be in better shape if the shysters in Congress get to debate ad infinitum and vote on whether interest rates should go up or down 1/4 or 1/5 a point.

WON'T WE?

[DallasDeb]

The Fed has NOTHING to do with Congress increase the debt to $12 trillion. All it can do is set monetary policy which has little to do with setting the debt. The Fed should be audited to see how it handled TARP and the Stimulus Package.

[Freddd]

So you think Barney Frank, Nancy Pelosi, Charles Rangel, Chris Dodd, Barney Frank, Bobby Rush, Roland Burris, Maxine Waters, Jesse Jackson Jr....Congess in general, would do a better job of handling the Fed, than the Federal Reserve Bank?

[who knows what evil?]

I believe you have dialed the wrong number.

[Freddd]

And you don’t think Congress already knows??

Right.

[what's up]

No, which was my point.

I guess I needed to insert a "/sarcasm" tag after my comment.

[Freddd]

‘This move to bring the Fed’s conduct of monetary policy under the control of Congress’ ...

[Swing_Thought]

Gregg; “Pay no attention to the man behind the curtain!”

[rabscuttle385]

So you think Barney Frank, Nancy Pelosi, Charles Rangel, Chris Dodd, Barney Frank, Bobby Rush, Roland Burris, Maxine Waters, Jesse Jackson Jr....Congess in general, would do a better job of handling the Fed, than the Federal Reserve Bank?

At least those folks' names are known and they can be brought down in an election, however remote the possibility.

I would rather deal with the monetary policy of the morons and traitors in Congress than some nameless, unaccountable bankers and hedge fund managers in the smoky back rooms of New York, Boston, Chicago, San Francisco, and Charlotte, NC.

[fiscalresponsiblity]

Freddd, all the people you listed are against the audit of the fed and agree with you to let the status quo remain. Its interesting that you seem to have so much contempt for this people, but choose to defend Gregg’s position, which is in agreement with all the names listed who love having no accountability and an all imposing governmental organization, which does not have to answer to the people like the federal reserve. I guess you will be voting against all the republicans that voted for this bill to support Gregg and his corrupt democratic friends.