Jim Bunning Takes On The Fed

This is pretty interesting, given what has occurred over the past year and a half.  Senator Jim Bunning departs from the sycophants in Washington.

Here is the first and last paragraph of his statement at today’s hearing on the nomination of Fed Chairman Bernanke:

Four years ago when you came before the Senate for confirmation to be Chairman of the Federal Reserve, I was the only Senator to vote against you. In fact, I was the only Senator to even raise serious concerns about you. I opposed you because I knew you would continue the legacy of Alan Greenspan, and I was right. But I did not know how right I would be and could not begin to imagine how wrong you would be in the following four years.

From monetary policy to regulation, consumer protection, transparency, and independence, your time as Fed Chairman has been a failure. You stated time and again during the housing bubble that there was no bubble. After the bubble burst, you repeatedly claimed the fallout would be small. And you clearly did not spot the systemic risks that you claim the Fed was supposed to be looking out for. Where I come from we punish failure, not reward it. That is certainly the way it was when I played baseball, and the way it is all across America. Judging by the current Treasury Secretary, some may think Washington does reward failure, but that should not be the case. I will do everything I can to stop your nomination and drag out the process as long as possible. We must put an end to your and the Fed’s failures, and there is no better time than now.

Nice!  Read the whole thing.

Jim Bunning Does Not Heart Ben Bernanke

– uo

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Published in: on December 3, 2009 at 4:04 pm  Comments (1)  

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One CommentLeave a comment

  1. Jim Bunning is a man, not a mouse.


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