Imperial
12-17-2010, 06:25 AM
After these two (http://www.nytimes.com/2010/12/12/weekinreview/12chan.html?scp=4&sq=ron%20paul&st=cse) articles (http://www.nytimes.com/2010/12/13/us/politics/13paul.html), this is the third article about Dr. Paul in a month. And that doesn't even include blog posts talking about his position on Wikileaks and other topics.
You can read the full article here (http://www.nytimes.com/2010/12/17/business/economy/17norris.html?_r=1&pagewanted=2&src=twrhp). It describes his position overseeing the Federal Reserve and looks at some past precedents.
It is not hard to imagine Mr. Paul lecturing the president of the Federal Reserve Bank of New York in a committee room: “You can absolutely veto everything the president does. You have the power to veto what the Congress does, and the fact is that you have done it. You are going too far.”
And so it was back in 1964, when that lecture was actually given by the then-new chairman of the House Banking Committee, a Texas congressman named Wright Patman. As Time magazine then wrote: “For three decades, Wright Patman has fumed and fussed that the Federal Reserve system is too secretive, too independent, too insensitive to the hopes of small borrowers. A sharecropper’s son, he often charges that it is a tool of Wall Street bankers.”
A joke during Mr. Patman’s tenure was that the reason he chose a bright red carpet for his office was to hide the blood stains after William McChesney Martin Jr., then the Fed chairman, emerged from private meetings.
You can read the full article here (http://www.nytimes.com/2010/12/17/business/economy/17norris.html?_r=1&pagewanted=2&src=twrhp). It describes his position overseeing the Federal Reserve and looks at some past precedents.
It is not hard to imagine Mr. Paul lecturing the president of the Federal Reserve Bank of New York in a committee room: “You can absolutely veto everything the president does. You have the power to veto what the Congress does, and the fact is that you have done it. You are going too far.”
And so it was back in 1964, when that lecture was actually given by the then-new chairman of the House Banking Committee, a Texas congressman named Wright Patman. As Time magazine then wrote: “For three decades, Wright Patman has fumed and fussed that the Federal Reserve system is too secretive, too independent, too insensitive to the hopes of small borrowers. A sharecropper’s son, he often charges that it is a tool of Wall Street bankers.”
A joke during Mr. Patman’s tenure was that the reason he chose a bright red carpet for his office was to hide the blood stains after William McChesney Martin Jr., then the Fed chairman, emerged from private meetings.