Senator Elizabeth Warren Opposes Audit the Fed Bill

[tsai3904]

Sen. Warren Opposes “Audit the Fed” Bill

A critical question for Sen. Rand Paul’s effort to expand oversight of the Federal Reserve’s interest-rate decisions is whether he could win support from the central bank’s leftist critics in Congress.

But one of the Senate’s most prominent liberal Democrats says she’s not on board.

Sen. Elizabeth Warren (D., Mass.), a member of the Banking Committee and an outspoken critic of the Fed’s oversight of big banks, said she does not support Mr. Paul’s proposed legislation, which she said could have “dangerous” implications for monetary policy.

“I strongly support and continue to press for greater congressional oversight of the Fed’s regulatory and supervisory responsibilities, and I believe the Fed’s balance sheet should be regularly audited – which the law already requires,” Ms. Warren said in an emailed statement. “But I oppose the current version of this bill because it promotes congressional meddling in the Fed’s monetary policy decisions, which risks politicizing those decisions and may have dangerous implications for financial stability and the health of the global economy.”

...

More:
http://blogs.wsj.com/economics/2015/02/10/sen-warren-opposes-audit-the-fed-bill/

[Lucille]

Of course she does. She's a prog, and they love the evil Fed and its vicious and regressive inflation tax. It's the only thing propping up their glorious Welfare-Warfare State.

The Democrats Finally Embrace Money Printing
http://gonzalolira.blogspot.com/2013/07/the-democrats-finally-embrace-money.html


In other words, the Democrats have finally realized that not only does QE mean they don’t have to rein in the deficit—QE also means that they can expand the deficit, confident that additional debt will be bought and paid for by the Federal Reserve. Confident that additional debt will be monetized by the Federal Reserve—because after all, that’s what QE is: Debt monetization, and everybody knows it.

[Brian4Liberty]

So, the establishment media is attacking Warren to help Hillary. Check out the picture they used. :D

3751

Might as well make the best of it... ;)

565207975757742080

[specsaregood]

Of course she does.

Shocked I am, not.

[AuH20]

She's scared of a little public accounting?

[specsaregood]

She's scared of a little public accounting?

This bill puts oversight responsibility in the hands of congress; the last thing they want is responsibility. hence the failure to declare wars as well.

[muh_roads]

This bill puts oversight responsibility in the hands of congress; the last thing they want is responsibility.

EDIT: Forget my post...I had FCC proposal on the brain while mixing this together. lol

As for Warren, she is off my radar for sure now.

[NACBA]

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February 10, 2015 11:55 AM
Sen. Warren Opposes ‘Audit the Fed’ Bill
By KATE DAVIDSON
A critical question for Sen. Rand Paul’s effort to expand oversight of the Federal Reserve’s interest-rate decisions is whether he could win support from the central bank’s leftist critics in Congress.

Sen. Elizabeth Warren said on Tuesday she does not support proposed legislation to audit the Federal Reserve.
Agence France-Presse/Getty Images
But one of the Senate’s most prominent liberal Democrats says she’s not on board.
Sen. Elizabeth Warren (D., Mass.), a member of the Banking Committee and an outspoken critic of the Fed’s oversight of big banks, said she does not support Mr. Paul’s proposed legislation, which she said could have “dangerous” implications for monetary policy.
“I strongly support and continue to press for greater congressional oversight of the Fed’s regulatory and supervisory responsibilities, and I believe the Fed’s balance sheet should be regularly audited – which the law already requires,” Ms. Warren said in an emailed statement. “But I oppose the current version of this bill because it promotes congressional meddling in the Fed’s monetary policy decisions, which risks politicizing those decisions and may have dangerous implications for financial stability and the health of the global economy.”
Mr. Paul, a Republican from Kentucky, introduced the so-called “Audit the Fed” bill last month with 30 co-sponsors, of which only one was a Democrat – Sen. Mazie Hirono of Hawaii.
Republicans control 54 of the Senate’s 100 seats, short of the 60 votes bills usually need to clear procedural hurdles. This means the bill’s prospects are dim unless it can garner Democratic support.
As a member of Senate leadership with a high public profile, Ms. Warren could have given the bill a big lift if she endorsed it. Instead, her opposition could signal that other Democrats are not likely to favor it.
A trio of Fed policy makers spoke out Monday against the bill.
On Tuesday, Richmond Fed President Jeffrey Lacker joined the chorus. “If you look at the nuts and bolts of what it really does, it facilitates high-frequency harassment of our decision-making process, our monetary policy decision-making process,” he told reporters in Raleigh, N.C. “I don’t think anyone would view that as a constructive approach to oversight of any other agency, and certainly not one as important as the Federal Reserve.”
Mr. Lacker said he doesn’t think the bill will become law: “I think cooler heads will prevail, ultimately.”
–Ben Leubsdorf contributed to this article

Related reading:
Central Bankers Bash ‘Audit the Fed’ Bill
‘Audit the Fed’ Bill’s Prospects Unclear
Powell: Congressional Proposals to Audit the Fed ‘Misguided’
Fisher Bashes Fed Audit Bill in Television Interview
Hilsenrath’s Take: The Fed’s Republican Tries Talking Republicans Out of “Audit the Fed”
Hilsenrath’s Take:Yellen Prepared to Fight A Revived “Audit the Fed” Movement
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[Lucille]

^ What a mess that post is.

http://www.ronpaulforums.com/showthread.php?468599-Senator-Elizabeth-Warren-Opposes-Audit-the-Fed-Bill

[NACBA]

F@ck her. Tool

[Stratovarious]

So, the establishment media is attacking Warren to help Hillary. Check out the picture they used. :D

http://www.ronpaulforums.com/attachment.php?attachmentid=3751&stc=1

Might as well make the best of it... ;)

565207975757742080

Scrape back some of that make up and you might find Jimi Hoffa...



..

[jkob]

Warren is "progressive" with all the wrong issues, just a straight up fascist. She would of voted for Mussolini.

[Sola_Fide]

Haha...this is the progressive's hope? A complete statist? Pfffft

[ghengis86]

Wait, the Fed's monetary policy decisions have NOT been politically motivated? Lol. Good one.

[Matt Collins]

This could hurt her during the presidential election.

[specsaregood]

I'd like to see a pointed response by Randal specifically addressing her arguments. She has given him an opening, time to expose her. If not Randal, has anybody else written up a non-partisan response somewhere? link?

The DU response is divided:
hxxp://www.democraticunderground.com/12652600

[HVACTech]

She's scared of a little public accounting?

no, she is afraid of not having an "elastic" money supply.

and she is PAID to study these things. we are not.

[PaulConventionWV]

Shocked, I am.

[PaulConventionWV]

Haha...this is the progressive's hope? A complete statist? Pfffft

Are you really surprised?

[Marenco]

This could hurt her during the presidential election.

I doubt it. Most of her supporters probably don't even know what the Federal Reserve is or know very little about it.

[enhanced_deficit]

No grammy (http://www.ronpaulforums.com/showthread.php?468543-Woman-who-called-Michelle-Obama-quot-tranny-quot-honored-with-Grammy-quot-Warrior-of-Truth-quot-Awards&p=5780857&viewfull=1#post5780857) for moderate SWC EWww.

[56ktarget]

Paulite thinking:

1. Congress are a bunch of big govt morons!!!
2. Lets put them in charge of monetary policy!!!

There's a reason why the vast majority of people in this country think libertarianism is a kook ideology.

[DamianTV]

Paulite thinking:

1. Congress are a bunch of big govt morons!!!
2. Lets put them in charge of monetary policy!!!

There's a reason why the vast majority of people in this country think libertarianism is a kook ideology.

Monetary Policy = Printing Currency, Currency Creation
Fiscal Policy = Taxing Currency, Currency Destruction

The real wealth of this country should be in the hands of those that produce value, the Workers, not Manipulators. The Fed is the Printing Press, thus, in order to get rid of it, the first step is probably to Audit it. Snide remarks of Paulites only manages to show your own ignorance of the differences between Money and Currency. So who is the kook? Those that understand the con, or those who point fingers and toss labels? Witch. Jew. Whitey. Cracker. ***. All labels intended to create an association of hatred.

-Rep, mostly cuz Im just morbidly curious to see what a fully solid red reputation bar looks like. Not that 56ktarget has any actual reputation.

[56ktarget]

Monetary Policy = Printing Currency, Currency Creation

The real wealth of this country should be in the hands of those that produce value, the Workers, not Manipulators.

Sounds suspiciously like communism. Then again, it's no surprise, considering libertarianism and communism are two sides of the same coin.

[DamianTV]

Sounds suspiciously like communism. Then again, it's no surprise, considering libertarianism and communism are two sides of the same coin.

This is our current system with the Federal Reserve Bank, and yeah, its communist. But somehow, we support Funny Munny? We didnt have the Fed until 1913. And since we oppose this, we are all "Kooks"? Hint: that isnt Kool-Aid...

[Rudeman]

Paulite thinking:

1. Congress are a bunch of big govt morons!!!
2. Lets put them in charge of monetary policy!!!

There's a reason why the vast majority of people in this country think libertarianism is a kook ideology.

So to sum it up you know Warren is 100% wrong (otherwise you are also a hypocrite) so instead you attack people who post here. A lesson in trolling, don't be so obvious.

[Ronin Truth]

Ah, Liz has probably now received her Rothschild check. :rolleyes:

[EBounding]

Paulite thinking:

1. Congress are a bunch of big govt morons!!!
2. Lets put them in charge of monetary policy!!!

There's a reason why the vast majority of people in this country think libertarianism is a kook ideology.

Congressional oversight is the lesser of two evils, but most congresscritters don't want that responsibility. The Fed is not insulated from government anyway.

“The U.S. Treasury and the Federal Reserve System have long enjoyed a close relationship…. This relationship proved beneficial during the 2008-09 financial crisis, when the Treasury altered its cash management practices to facilitate the Fed’s dramatic expansion of credit to banks, primary dealers, and foreign central banks.” - The Ben Bernank

[AuH20]

Are they scared that the public will find out about the Plunge Protection Team and other Fed secrets? Using member banks as fronts to purchase future contracts in large Fortune 500 companies after the stock market gets hammered doesn't exactly convey confidence to Joe Q. Public.

[specsaregood]

I oppose the current version of this bill because it promotes congressional meddling in the Fed’s monetary policy decisions


I've actually read the bill and I see no indication that the bill would promote such.

[Matt Collins]

I doubt it. Most of her supporters probably don't even know what the Federal Reserve is or know very little about it.
We don't need "most of her supporters" we only need a few of them. Something like 80% of the population support an audit. I assure you there are some supporters of hers that would be turned off if they knew she opposed an audit.

[JK/SEA]

We don't need "most of her supporters" we only need a few of them. Something like 80% of the population support an audit. I assure you there are some supporters of hers that would be turned off if they knew she opposed an audit.

HAH.... how many more years left in her term?.....she doesn't give a shit.

[Matt Collins]

HAH.... how many more years left in her term?.....she doesn't give a shit.
If she runs for President and this could hurt her, then I assure you she will care. See my signature.

[JK/SEA]

If she runs for President and this could hurt her, then I assure you she will care. See my signature.

if... she runs for President, it will be for 'show'...kinda like Palin, but not...kinda...

[Bman]

Of course she does. She's a prog, and they love the evil Fed and its vicious and regressive inflation tax. It's the only thing propping up their glorious Welfare-Warfare State.

The Democrats Finally Embrace Money Printing
http://gonzalolira.blogspot.com/2013/07/the-democrats-finally-embrace-money.html

She's hardly a Progressive. She's a Nixon style Republican who became a Democrat when the party told the Nixon Repubs to fuck off in the 80's.

[NACBA]

We don't need "most of her supporters" we only need a few of them. Something like 80% of the population support an audit. I assure you there are some supporters of hers that would be turned off if they knew she opposed an audit.

You've got me

http://i.imgur.com/CaJ7IK2.png

[Lucille]

http://reason.com/blog/2015/02/11/elizabeth-warren-wont-back-rand-pauls-au


This news will not surprise anyone who has paid attention to the discrepancies between Warren's deceptively populist rhetoric and her partisan actions. She talks a good game bringing a modicum of fair play to the mega corporations and their allies in Washington, but when push comes to shove, she reliably supports their cronyist practices. She supports the Export-Import Bank, for example.

So the next time anyone talks about Warren in the context of a populist hero, remind them that the senator from Massachusetts believes the activities of the most powerful money-related institution in the country should be hidden from public scrutiny.

[AuH20]

http://reason.com/blog/2015/02/11/elizabeth-warren-wont-back-rand-pauls-au

Mark Ruffalo is going to be so disappointed. [NOT!]

http://www.vanityfair.com/news/2015/02/elizabeth-warren-running-for-president

[devil21]

Where's that video of TARP administrator Warren laughing as she tells Bill Maher she doesn't know where the money went? eta: that video doesn't show the full TARP interview. Bill and the audience weren't the only ones laughing. The original vids are long gone.

Got it:

https://www.youtube.com/watch?v=Jp1DRoodaks

Save it before it gets scrubbed.

[TheTexan]

Something like 80% of the population support an audit.

Yes. And 90% of the population think we should return to a smaller government.

[DamianTV]

There is another possible outcome: The fox audits the henhouse.

[Matt Collins]

There is another possible outcome: The fox audits the henhouse.Unlikely, and here is why:

http://www.cato.org/publications/commentary/anyone-needs-audit-its-federal-reserve#V4DYHA:IK4