Cain is much more qualified than ANY other Presidential hopeful out there and deserving of much respect. So he worked for the Fed for a time, who can cast the first stone?
I don’t believe that for a minute. Sarah has a ton more experience.
I put that experience in the plus column myself.
Herman Cain: Federal Reserve Chairman, Tea Party ChampionCain seems to have a three-part response to this problem. First, he defends his Fed tenure. He told Beck, "That Federal Reserve didn't do any of the stuff that this Federal Reserve is doing... Alan Greenspan never allowed the Fed to become politicized. We didn't have this $14 trillion debt to deal with, and as a result, they didn't have to inflate our currency the way this Federal Reserve board is doing."
Second, he emphasizes his monetary conservatism. "He's in favor of considering a return to something like a gold-based standard," his spokeswoman told me. Although that idea is considered archaic among most mainstream economists, it's more or less within the mainstream of the Republican Party these days (or at least the tea party).
Third, Cain makes clear that he wants no fight with Ron Paul. He told Beck that he supports Paul's authority as chairman of a House subcommittee to audit the Fed, although he may not have helped matters by adding that such an audit was unnecessary. Why is that, Beck asked. Because, Cain replied, "They have internal controls out the wazoo. I saw them."