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Ron Paul’s Fed-Bashing Wins Over Lawmakers Wary of Bank’s Power

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Catherine Dodge
Bloomberg
Wednesday, Dec 9th, 2009

For U.S. Representative Ron Paul, the ninth time may be the charm.

After fighting for decades to increase scrutiny of the Federal Reserve or abolish it, the Texas Republican’s proposal requiring audits of the central bank’s interest-rate decisions is getting traction.

The long-shot 2008 presidential candidate whose anti-tax, anti-government politics struck a chord with a swath of voters is again channeling public frustration with big government, bailouts and rising federal debt. And as Paul trains his sights on his favorite villain, the Fed, many in Congress are listening.

“We live in the age of the people demanding more transparency, and that came out of the failure of Congress to monitor the bailouts,” Paul, 74, said in an interview. “I was able to tap into that.”

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This article was posted: Wednesday, December 9, 2009 at 11:56 am





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