Republicans Bash Federal Reserve, Laugh With (Not at) Ron Paul

By:  Thomas R. Eddlem
10/12/2011
       
Republicans Bash Federal Reserve, Laugh With (Not at) Ron Paul

Washington Post reporter Karen Tumulty tried to get Republican presidential candidates in the October 11 New Hampshire debate to agree with the left-wing consensus that Wall Street suddenly and inexplicably went insane and greedy all at once during the 2008 housing and financial crash. Republicans were also asked to echo leftist calls for jailing stockbrokers, but if Tumulty hoped for ideological consensus, she left the Dartmouth College debate table disappointed.

Minnesota Representative Michele Bachmann began with an attack on the federal government for creating the sub-prime market crisis through Fannie Mae and Freddie Mac subsidies, the Community Reinvestment Act (CRA) regulations, and "artificially low interest rates" through the Federal Reserve Bank.

Former House Speaker Newt Gingrich followed, launching into a vitriolic attack on the Federal Reserve Bank, and referring to "Occupy" protesters in various cities across the nation:

If they want to really change things, the first person to fire is Bernanke, who is a disaster as a Chairman of the Federal Reserve.... Bernanke has in secret spent hundreds of billions of dollars bailing out one group and not bailing out another group. I don't see anybody in the news media demanding the kind of transparency at the Fed that you would demand in every other aspect of the Federal government. And I think it is corrupt and it wrong for one man to have that kind of secret power.

Washington Post reporter Karen Tumulty tried to get Republican presidential candidates in the October 11 New Hampshire debate to agree with the left-wing consensus that Wall Street suddenly and inexplicably went insane and greedy all at once during the 2008 housing and financial crash. Republicans were also asked to echo leftist calls for jailing stockbrokers, but if Tumulty hoped for ideological consensus, she left the Dartmouth College debate table disappointed.

Minnesota Representative Michele Bachmann began with an attack on the federal government for creating the sub-prime market crisis through Fannie Mae and Freddie Mac subsidies, the Community Reinvestment Act (CRA) regulations, and "artificially low interest rates" through the Federal Reserve Bank.

Former House Speaker Newt Gingrich followed, launching into a vitriolic attack on the Federal Reserve Bank, and referring to "Occupy" protesters in various cities across the nation:

If they want to really change things, the first person to fire is Bernanke, who is a disaster as a Chairman of the Federal Reserve.... Bernanke has in secret spent hundreds of billions of dollars bailing out one group and not bailing out another group. I don't see anybody in the news media demanding the kind of transparency at the Fed that you would demand in every other aspect of the Federal government. And I think it is corrupt and it wrong for one man to have that kind of secret power.

Click here to read the entire article.

Photo of Ron Paul at GOP debate: AP Images

The JBS Weekly Member Update offers activism tips, new educational tools, upcoming events, and JBS perspective. Every Monday this e-newsletter will keep you informed on current action projects and offer insight into news events you won't hear from the mainstream media.
JBS Facebook JBS Twitter JBS YouTube JBS RSS Feed