Monday, November 23, 2009

Fed rage boils over on Capitol Hill

This has been a huge week for everyone. Many people don't quite understand what all this means, but everything will soon be brought to light. I have never felt the way I feel today... We overcame a huge obstacle, and now we're gaining momentum. This all seems surreal, but I assure you, it's real. We the People have truly spoken today, and tomorrow, and forever.

Measure to Audit the Federal Reserve advances in Congress

We are winning! It feels good to be making history!

Fed rage boils over on Capitol Hill
Ben Bernanke will win confirmation to a second term as head of the central bank. But it won't be pretty. The movement in Congress to rein the Fed in is gaining steam.

Link to Full Article

WASHINGTON ( -- Federal Reserve Chairman Ben Bernanke has a tough road ahead.

Very tough.

Bernanke, whose four-year term expires in January, is certain to face a contentious Senate banking panel at his confirmation hearing, set for Dec. 3. He is also defending against the sharpest attack on Federal Reserve powers ever.

The latest blow came last week, when a House panel overwhelmingly agreed to tack on to must-pass regulatory reform a proposal to dig into the Fed's books, despite attempts by Rep. Barney Frank, D-Mass., to make it less intrusive.

Fed watchers say they expect that Bernanke will be confirmed for a second term as chairman. But he may get the fewest favorable votes on record - and end up at the helm of a vastly changed Federal Reserve.

"It's going to wind up to be a very different institution," said American Enterprise Institute scholar Vincent Reinhart, a former director of the Fed's division of monetary affairs. "At least on the Federal Reserve part, Congress is going to converge on something that's tougher on the Fed. It's a way to vent anger. And fundamentally people are angry."