Federal Reserve historian slams Consumer Financial Protection Bureau

Whoa! Ron Paul to Head Federal Reserve Oversight Panel?
(The Street) — Ron Paul, the Controversial Republican House representative from Texas, will take control of the subcommittee that oversees the Federal Reserve. House Financial Services chairman-elect Spencer Bachus’ (R.-AL) announced Paul’s appointment on Thursday, along with the rest his choices for Leadership team. Bachus was appointed chairman of the panel on Wednesday. Paul, who has introduced Legislation to abolish the Fed, will specifically head up the Subcommittee on Dom...

Fed will have to be 'timely' to prevent inflation, Volcker says
Former Federal Reserve Chairman Paul Volcker was confident that the Federal Reserve will be able to pull out of its Controversial decision to buy $600 billion of Treasury Bonds to boost private Lending before causing Inflation. “The Federal Reserve will have to act in a timely way to head off inflationary consequences,” he said Friday at an event hosted by the American Enterprise Institute. “I think they understand the problem.” Volcker's comments come after current Fed Chairman Be

Fed feels earthquake? Ron Paul to have oversight
I’m sure good old Ben loved to hear this news. It’s about  time. Let’s first take a look at what the Fed has done to us. The value of The Dollar remained extremely stable for 150 years, the Fed was created in order to “stabilize the value of the dollar,” and the result has been a 95% devaluation of The Dollar in less than 100 years following its creation. From 1776 to 1912 (136 years), the value of the dollar, relative to the Consumer Price Index, increased by...

Chairman End the Fed
It's official: Ron Paul, Libertarian standard bearer, will chair the House Financial Services subcommittee on Monetary Policy that oversees the Federal Reserve. It's a big step for the Texas congressman who's spent much of his career leveling harsh criticism at the central banking system and, in its own way, a sign of the times. Populist (especially conservative populist) backlash against the Fed is ascendant and Paul now has a platform from which to challenge Bernanke et al. on the transparency...

Fed about to feel earthquake? Ron Paul to have oversight
Rep. Ron Paul, R-Texas, a longtime advocate for plans to end the Federal Reserve's control of U.S. Monetary Policy, will assume the chairmanship of the Domestic Monetary Policy Subcommittee of the House Committee on Financial Services when the 112th Congress begins in January, WND has confirmed. Michael Steel, Press Secretary for Minority Leader John Boehner, R-Ohio, had told WND that Boehner had no intention of blocking Paul from being subcommittee chairman. Then today, Rep. Spencer Bachus, R...

Oh crap, I agree with Ron Paul
What a difference a Recession makes. Two years ago, I goofed on Republican Congressman Doctor Ron Paul for wanting to use letters of marque and reprisal to go after Terrorists as if they were pirates. But now contracting out the war on Terrorism is tempting. But putting a $50 million price on Osama bin Laden’s head has failed to produce that head, so maybe it would not have worked. The big joke two years ago was Doctor Paul’s call to end the Fed. Two years later, that is not so bad...

Ron Paul to chair Fed oversight panel (Politico)
Rep. Ron Paul (R-Texas) sparked the movement to “audit the Fed.” Now he might get his way. Rep. Spencer Bachus (R-Ala.), chairman of the House Financial Services Committee, announced Thursday that Paul will chair the subcommittee that oversees the Federal Reserve. Paul’s Monetary Policy manifesto, "End the Fed," foreshadows the direction his Oversight responsibilities might head in the next Congress. The Texas Republican’s small-government views have built hi...

Wall Street's Favorite Democrat Strikes (Out) Again
I wrote a few days back about Wall Street's newest favorite Democrat, Tom Carper, circulating a letter to colleagues on behalf of the big bank and Credit Card companies. This letter, which every big bank and Credit Card Lobbyist in DC was actively pushing, ended up scoring only 17 signers. Given the lobbying muscle and money working this one, getting only 17 Senators was a truly pathetic showing. What that shows me is that Carper, his fellow Banker buddy Mark Warner, and the bank lobby couldn'...

Ron Paul to oversee Federal Reserve
Ron Paul issued a Press Release that he has been "appointed to head the Domestic Monetary Policy Subcommittee of the House Financial Services Committee in the 112th Congress.  The subcommittee has jurisdiction over monetary policy, currency, Commodity Prices, and matters related to the Federal Reserve Bank generally." The announcement of Congressman Paul's appointment was made by incoming Chairman of the Financial Services Committee, Congressman Spencer Bachus. In Paul's announcement he say...

THIS should be interesting: Ron Paul to run Fed Oversight Committee.
Dec. 1 (Bloomberg) -- U.S. Representative Ron Paul, a Republican from Texas, talks about the Federal Reserve's response to the Financial Crisis and the bank's that borrowed from the Fed's Term Auction Facility. Paul speaks with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg) Representative Ron Paul, Texas Republican and author of “End the Fed,” will take control of the House subcommittee that oversees the Federal Reserve. House Financial Services chairman-ele...

Ron Paul Interview on Fed Oversight - Video
U.S. Representative Ron Paul, a Texas Republican who next month will take over as head of the House subcommittee that oversees the Federal Reserve, talks about his priorities and the need to consider "reforms" of the Central Bank. Paul, speaking with Betty Liu on Bloomberg Television's "In the Loop," also discusses the outlook for a tax Compromise. (Source: Bloomberg)...

Issa says reform bill soft on hedge funds
The incoming Republican chairman of the House Oversight Committee said Wall Street owed it to Americans to be more transparent. Darrell Issa, the California congressman, singled out Hedge Funds, saying they faced reporting requirements that were too “soft” in this year’s Financial Reform bill. More FT video In a Video Interview with the Financial Times, Mr Issa, who becomes chairman of the investigative panel in January, said he hoped to work with Barney Frank, the outgoing Democratic cha

Profile on TED.com
Halla Tomasdottir, co-founder of Audur Capital Financial Services, has been instrumental in rebuilding Iceland’s economy since its collapse in 2008. Her passion is releasing the incredible economic potential of women’s ways of doing business. Halla Tomasdottir believes that women’s values are key to solving Iceland’s economic crisis. In 2007, Halla and her business partner, Kristin Petursdottir, co-founded Audur Capital to bring greater diversity, social responsibility, a...

Minneapolis-St. Paul residents top retirement planners
The poll ranked 30 U.S. cities according to how much money their citizens were setting aside for Retirement and how confident they were about that stage of their lives. Raleigh-Durham and Nashville came in second and third. "People in those cities, more than the others, figured out how much they need and took the appropriate steps," said Craig Brimhall, Vice President of Retirement wealth at the Financial Services firm Ameriprise, which commissioned the survey. He added that the most important ...

Fireworks? Ron Paul Gets Gavel for Fed Panel
By Danny Yadron Rep. Ron Paul , the Texas Republican who has passionately called for dismantling the Federal Reserve, will be running the panel that oversees the Central Bank when Republicans take the House majority next year. Mr. Paul has introduced Legislation to abolish the Fed, wrote the book, “End the Fed,” and rallied support for eliminating it. Rep. Spencer Bachus (R., Ala.), who will take over the House Financial Services Committee from Rep. Barney Frank (D., Mass.), announced today tha..

Bunning hits 'stubborn' Dems in farewell address
Retiring Sen. Jim Bunning — who spent more than 20 years in Congress — gave an emotional goodbye to the upper chamber, but not before criticizing Democrats as "stubborn." The Kentucky Republican swung at Democrats for pursuing the massive healthcare overhaul and the financial regulatory reform package, which he said were "disappointments" that will cause more problems than they will solve. Bunning, a staunch conservative, blamed the Democrats' "stubborn refusal to Compromise" for the outc...

Ron Paul to Take Over Fed-Oversight Panel
Our colleagues on Washington Wire report: Rep. Ron Paul , the Texas Republican who has passionately called for dismantling the Federal Reserve, will be running the panel that oversees the Central Bank when Republicans take the House majority next year. Mr. Paul has introduced Legislation to abolish the Fed, wrote the book, “End the Fed,” and rallied support for eliminating it. Rep. Spencer Bachus (R., Ala.), who will take over the House Financial Services Committee from Rep. Barney Frank (D., M..

Ron Paul to chair monetary policy subcommittee overseeing Fed
Texas Republican Rep. Ron Paul is poised to chair the House Domestic Monetary Policy Subcommittee, putting the gavel of the panel overseeing the Federal Reserve into the hands of one of the Central Bank's most outspoken critics. Rep. Spencer Bachus (R-Ala.), the incoming chairman of the House Financial Services Committee, announced Thursday that Paul will head the subcommittee when Republicans assume the majority in the 112th Congress. "This is the Leadership team that crafted the first comprehe...

Dodd-Frank crimes
Dodd-Frank crimes According to Tiffany M. Joslyn's "Criminal Provisions in the Dodd-Frank Wall Street Reform & Consumer Protection Act," Dodd-Frank creates a lot of new criminal liability. ...

'Imagine' There's No Federal Reserve
Sounds almost like a John Lennon song…and since December 8 was the 30th anniversary of his Assassination in NYC, why not use his iconic post-Beatles song as inspiration? We have been intrigued by the on-going debate/tirade/jeremiad (take your pick) by some people and a lot of Tea Party affiliators regarding the role of the Federal Reserve in America. Don’t pat yourself on the back for thinking you have brought up this issue for the first time. The very issue of a central national ban...

Republican Freshmen Get Plum Posts
By Patrick O'Connor House Speaker-in-waiting John Boehner is following through on his promise to give members of the Republican freshman class seats on some of the chamber’s Most Powerful committees. Two newly elected Republicans will join the tax-writing Ways and Means Committee, four were named to the Appropriations panel that allocates federal spending each year and an eye-popping seven were tapped to serve on the Energy and Commerce Committee, which oversees a wide range of industries, from...

Senate must press overvalued yuan (Politico)
The full meaning of the midterms will be debated for a long time. But one thing is clear: Voters want Democrats and Republicans to work together to create jobs for Americans. One way we can do that is to pass Legislation that cracks down on Chinese currency manipulation. Democratic and Republican senators joined in March to introduce the Currency Exchange Rate Oversight Reform Act. A similar measure passed the House in September with strong Bipartisan support, 348-79. Before Congress adjourns,...

Paul Wins Fed Oversight Gavel
The Wall Street Journal reports: Rep. Ron Paul, the Texas Republican who has passionately called for dismantling the Federal Reserve, will be running the panel that oversees the Central Bank when Republicans take the House majority next year. Mr. Paul has introduced Legislation to abolish the Fed, wrote the book, “End the Fed,” and rallied support for eliminating it. Rep. Spencer Bachus (R., Ala.), who will take over the House Financial Services Committee from Rep. Barney Frank (D., Mass.)...

Oh yea! Ron Paul to chair the subcommittee that oversees the Federal Reserve
Oh yea! Ron Paul to chair the subcommittee that oversees the Federal Reserve End the Fed! I’m not as big of a fan of Ron Paul as a lot of Libertarians are, but when it comes to overseeing the Fed, there is no one better I could think of than Ron Paul. Now he’s going to get his chance. Today, Alabama Rep. Spencer Bachus who is chairman of the House Financial Services Committee, announced that Ron Paul will chair the subcommittee that oversees the Federal Reserve! ...

Federal Reserve Loses $2.4 Billion In Taxpayer Money In Most Recent QE2 POMO Interval
was recently estimated at about $1 billion. This number refers to a Fed Balance Sheet as of April 2010: extending the calculation for the Fed's current ballooning holdings, means that the DV01, or the P&L impact from every basis point move up or down, is now about $1.5 billion. In simple terms, a 1% move in rates will result in a $150 billion loss to Taxpayers ! And so on: 2% - $300 billion, 3% - $450, although technically not in a linear Fashion, as by then the convexity impact will make lo...