10.8.09
Congressmen Ron Paul (R – Texas) and Alan Grayson (D-Florida) have sent a letter to Senator Christopher Dodd ( D -CT) asking him to postpone confirmation of Fed Chairman Ben Bernanke until the Fed releases data on who got bailout money from the Fed last year:
Congressman Paul authored a bill working through the House that would require the GAO to audit the Federal Reserve’s monetary policy – something it is not allowed to do now.
Interestingly, Dodd is running for re-election potentially against Peter Schiff, president of Europacific Capital and a Paul ally. If Dodd does not honor this request, or worse ignores the letter, Schiff might have more ammunition in his contentions that Dodd is in the pockets of the banking industry. This should play out interestingly…
Chris Grande
