Rand Paul Threatens To Hold Up Janet Yellen Nomination To Fed: Report

Rand Paul spokesman Brian Darling confirmed Friday that Paul will request a vote on his Fed transparency bill as part of Janet Yellen's nomination process.

"As part of Senate consideration of the Janet Yellen nomination to be Chair of the Federal Reserve, I will request a vote on my bipartisan Federal Reserve Transparency Act, S. 209," Paul said, per Darling. "The American people deserve transparency from the federal reserve and the federal government as a whole."

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Comments

[RightNut]

What's all this Yellin about?

[Swiss Servator, Yodelriffic!]

*narrows gaze*

OK, we'll give that one...but watch it.

[kinnath]

Sexist bastard!

[Smilin' Joe Fission]

Just some classic racist sexist teathuglican bushpig obstructionism here.

/prog

[Eric Bana]

Peter Schiff made a great video destroying the absolute lies written in the media about Yellen's "lone-voice predictions" about the housing bubble. In reality she was blind-sided like all the rest of those schmucks. I almost vomited with rage when I watched it, so a have a barf-bag ready.

[Palin's Buttplug]

Schiff was preaching Doom&Gloom; while the greatest bull market ever was taking place (March 2009-present).

[Eric Bana]

Thank you for the information. Unfortunately, that was not related to the subject at all. If you think Yellen DID correctly predict the bursting of the housing bubble (or that she even thought we were in a bubble), that would at least pertain to what I wrote. If you're going to write a red herring when you reply, fuck off!

Post: Yellen did not predict the housing bubble or its collapse, contrary to what many in the media wrote, as Peter Schiff pointed out in a video.

[WTF]

Welcome to shreek's non sequitur style of 'argument'.

[Corning]

It is related Shrike understands that the entire purpose of the FED is to keep a few stock brokers and Megabanks rich at the expense of the greater economy.

[CE]

Ron Paul predicted the housing bubble when Greenspan and Bernank were singing the praises of housing.

[Death Rock and Skull]

I predicted the real estate dropoff, when I judged the "investment strategy" to be a totally retarded situation, and laughed at the tards.

[Palin's Buttplug]

Yellen is vice-chair now and would take over anyway when Bernanke leaves if no one else is confirmed. Randy is just politickin'.

[RightNut]

And by "politickin" he's bringing attention to the inordinate amount of power the Fed has. More power to him.

[sarcasmic]

Even if he got something like that passed, they'd just ignore it. We're way past anything pretending to be rule of law.

[sarcasmic]

Ha ha! I tangled with the 3 o'clock squirrels and WON!

[Swiss Servator, Yodelriffic!]

Careful, they are probably watching...and waiting for their revenge.

[Fatty Bolger]

A Return to Keynes?

Economics has moved beyond Keynes, but the Obama administration's Fed nominee hasn't.

Ms. Yellen, a former professor of economics at Berkeley, has openly proclaimed her views on economic policy, and those views deserve very careful scrutiny. She asks: "Will capitalist economies operate at full employment in the absence of routine intervention?" And she answers: "Certainly not."

Janet Yellen represents the Keynesian economics that once dominated economic theory and policy like a national religion ? until it encountered two things: Milton Friedman and the stagflation of the 1970s.
...

The ultimate discrediting of this Phillips Curve theory was the rising inflation and unemployment, at the same time in the 1970s, in what came to be called "stagflation" ? a combination of rising inflation and a stagnant economy with high unemployment.

Nevertheless, the Keynesian economists have staged a political comeback during the Obama administration. Janet Yellen's nomination to head the Federal Reserve is the crowning example of that comeback.

Ms. Yellen asks: "Do policy-makers have the knowledge and ability to improve macroeconomic outcomes rather than making matters worse?" And she answers: "Yes."

The former economics professor is certainly asking the right questions ? and giving the wrong answers.

Ugh.

[WTF]

Top. Men. Wymyn.

[Death Rock and Skull]

She totally is, though.

[anon]

"Do policy-makers have the knowledge and ability to improve macroeconomic outcomes rather than making matters worse?" And she answers: "Yes."

Well, Mrs. Yellen, if they have the knowledge and ability to improve macroeconomic outcomes, why does it appear that policy-makers always choose the exact worst outcome in any given situation?

[The Late P Brooks]

I want him to make her sing this song during the confirmation hearings:

There once was a time when everything was cheap,
But now prices nearly puts a man to sleep.
When we pay our grocery bill,
We just feel like making our will --
I remember when dry goods were cheap as dirt,
We could take two bits and buy a dandy shirt.
Now we pay three bucks or more,
Maybe get a shirt that another man wore --
Tell me how can a poor man stand such times and live?

Well, I used to trade with a man by the name of Gray,
Flour was fifty cents for a twenty-four pound bag.
Now it's a dollar and a half beside,
Just like a-skinning off a flea for the hide --
Tell me how can a poor man stand such times and live?

Oh, the schools we have today ain't worth a cent,
But they see to it that every child is sent.
If we don't send everyday,
We have a heavy fine to pay --
Tell me how can a poor man stand such times and live?

[The Late P Brooks]

Prohibition's good if 'tis conducted right,
There's no sense in shooting a man 'til he shows flight.
Officers kill without a cause,
They complain about funny laws --
Tell me how can a poor man stand such times and live?

Most all preachers preach for gold and not for souls,
That's what keeps a poor man always in a hole.
We can hardly get our breath,
Taxed and schooled and preached to death --
Tell me how can a poor man stand such times and live?

Oh, it's time for every man to be awake,
We pay fifty cents a pound when we ask for steak.
When we get our package home,
A little wad of paper with gristle and a bone --
Tell me how can a poor man stand such times and live?

Well, the doctor comes around with a face all bright,
And he says in a little while you'll be all right.
All he gives is a humbug pill,
A dose of dope and a great big bill --
Tell me how can a poor man stand such times and live?

Fucking character limit.

[The Late P Brooks]

Ms. Yellen asks: "Do policy-makers have the knowledge and ability to improve macroeconomic outcomes rather than making matters worse?" And she answers: "Yes."

Obamacare, for example.

[CE]

Federal Reserve intervention in the economy: 1929 for example, 2008 for example.

[anon]

2014, for example.

[The Last American Hero]

They had the knowledge and ability in 1921. By 1929, they had lost their way.

[Death Rock and Skull]

Why is "The Huffington Post" coming up as a Reason contributor?

[Brett L]

You didn't know the Kochs are in the pay of Arriana?

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