There’s a chance Rand Paul could end up with a seat on the Senate Banking Committee

[bobbyw24]

By Damian Paletta

It wasn’t exactly a ringing endorsement, but considering some of the things Sen.-elect Rand Paul (R., Ky.) has said about Federal Reserve Chairman Ben Bernanke in the past, folks over at the central bank might be breathing a little sigh of relief today.


Mr. Paul, in his first Sunday talk show interview since winning election on Tuesday, invoked Mr. Bernanke’s concerns about the country’s debt to support his point that the government must cut spending to balance the budget.

“Bernanke says the debt is unsustainable,” Mr. Paul said on ABC’s “This Week.” “We need to do something about it.”

http://blogs.wsj.com/washwire/2010/11/07/rand-paul-cites-bernanke-on-us-debt/

[Sola_Fide]

And there’s a decent chance Rand Paul could end up with a seat on the Senate Banking Committee, which would give him plenty of opportunity to question Mr. Bernanke in the future.


Whoa. Does anybody know anything about this? That would be awesome...

[bobbyw24]

Whoa. Does anybody know anything about this? That would be awesome...

Nice catch. That makes the article much better.

[Bruno]

This morning NPR had on the economics editor for the WSJ, and he was talking about the Pauls and how they will both be strongly questioning Bernanke and the Fed's actions. "Rand Paul's father, Ron Paul, wrote a book called End the Fed, so we know where he stands on the issue."

[bobbyw24]

Whoa. Does anybody know anything about this? That would be awesome...

Looking for a source . . .

[MRoCkEd]

Is that implying Rand likes the Fed because he said "even Bernanke calls the debt unsustainable?"
Lol

[bobbyw24]

Is that implying Rand likes the Fed because he said "even Bernanke calls the debt unsustainable?"
Lol

Yes.

Wish I could re-write thread title to:

There’s a decent chance Rand Paul could end up with a seat on the Senate Banking Committee

[newbitech]

Looking for a source . . .


Jim Bunning was the top Republican on the Senate Banking committee. Thats probably the source of the "rumor".

Heres another WSJ article from 5 days ago by Phil Izzo

http://blogs.wsj.com/economics/2010/11/02/rand-paul-victory-sends-fed-critic-to-senate/


Retiring Sen. Jim Bunning, who Paul succeeds, has been the chief Fed critic in the U.S. Senate. Not only did he vote against the reconfirmation of Ben Bernanke earlier this year, but he was also the sole “no” vote in the Senate Banking Committee during the Fed chairman’s first confirmation. Bunning could also always be counted on to spend his seven minutes during Bernanke’s semiannual testimony to the Banking Committee attacking the Fed.

edit for correction.

Jim Bunning is not the ranking Republican on the full committee (http://banking.senate.gov/public/index.cfm?FuseAction=CommitteeInformation.Membersh ip). He is however the ranking Republican on the subcomittee for securities, insurance, and investment (http://banking.senate.gov/public/index.cfm?Fuseaction=CommitteeInformation.Subcommi ttee&Subcommittee_ID=decb3c3c-2f60-49ae-ac2a-d82e1b912c9c).

[sailingaway]

Yeah, I think people are speculating. I hope so but it wouldn't make up for their playing games with Ron's chair of the subcommittee. I have to say I am worried they may play games with that and try to pretend they don't know it would only prove they learned nothing from the election. House leadership would all face primaries if they did that.

Rand said he hoped to be on the budget committee. Banking is great too. But right now, my main concern is Ron's subcommittee.

[Bern]

http://i914.photobucket.com/albums/ac348/jaciolli/carrey_dumber.jpg

[bobbyw24]

Thanks for changing the title

[low preference guy]

Is that implying Rand likes the Fed because he said "even Bernanke calls the debt unsustainable?"
Lol

there is a lot of really stupid people, even among WSJ writers

[Brett]

there is a lot of really stupid people, even among WSJ writers

Intentional irony? :p

I would love to see Rand tackle this issue. It's evident no other Conservative will.

[JoshLowry]

That is the strangest parallel/causation I have even seen written by someone at the WSJ.

It makes zero sense.

"Because Rand agrees that Bernanke is doing a piss poor job, he might get a Senate Banking Committee seat."

[sirgonzo420]

I'd rather be rich than stupid.

[Sola_Fide]

I'd rather be rich than stupid.

Is that a haiku?

[Maximus]

How do you get on a committee anyways? Is it something you are assigned to by leadership or something you apply for?

For some reason in my head I feel like they are extra-curriculars in a college, "hmmmmm I like ethics, maybe I'll join the ethics panel"... how does this work?

[Bern]

How are senators assigned to committees?

Each party assigns, by resolution, its own members to committees, and each committee distributes its members among subcommittees. The Senate places limits on the number and types of panels any one senator may serve on and chair.

Members of select and special committees are officially appointed by the Senate's president or president pro tempore.

http://www.senate.gov/general/common/generic/committee_faq.htm#committee_assignment

[sailingaway]

I think they'll give him decent committees because the ability to yank them is the only leverage they will have over him.

[low preference guy]

I think they'll give him decent committees because the ability to yank them is the only leverage they will have over him.

if that's what they try to do, it will fail, because if they take it from him, it will make Rand look really good.

they might be betting that Rand won't do what he wants just based on the implicit threat, but Rand might even like the idea of having his seat at the committee taken away from him. again, it will make show that he is principled and anti-establishment.

[sailingaway]

if that's what they try to do, it will fail, because if they take it from him, it will make Rand look really good.

they might be betting that Rand won't do what he wants just based on the implicit threat, but Rand might even like the idea of having his seat at the committee taken away from him. again, it will make show that he is principled and anti-establishment.

I think Rand wants a seat at the table. I don't think he would sell out for it, but I think the reason he ran is to get certain things done, and he will be circumspect more than SOME might like in order to do that. Which is not the same as selling out.

[DeadheadForPaul]

there is a lot of really stupid people, even among WSJ writers

+1

Either I'm missing something here or that assessment makes zero sense

[ScotTX]

http://everythinggold.blogspot.com/2010/11/rand-paul-says-us-debt-unsustainable.html


In an interesting comment which is somehow being spun as being in agreement with Federal Reserve chaiman Ben Bernanke, Rand Paul said on "This Week" on ABC, that “We need to do something about it," referring to Bernanke saying in the past that U.S. "debt is unsustainable."