October 30, 2009

Quote of the Day

The Fed will not reject it when we, I promise you, next year, take up legislatively the issue. And I think itís very clear. You should not have private citizens like the presidents of the regional banks voting on policy. -- Rep. Barney Frank
I know that there is little common ground on the FOMC around ThreeSources. But I think we might all agree that having the professional politicians in Frank's Finance Committee take over for the amateur private citizen bankers is NOT the solution.

This from the inestimable and unspellable James Pethokoukis, who suggests "...it is clear Congress wants to have more influence over the Fed. This, right at the time when global financial markets will have to remain confident America will not inflate its way out of its debt."

FOMC Posted by John Kranz at October 30, 2009 3:47 PM

Fear not, we'll soon have Bernanke's unrepressed, overindulgent "experimentation" combined with Frank's half-incompetent, half-malicious "Dr. Evil" blubbering!

Posted by: Perry Eidelbus at November 2, 2009 11:25 AM | What do you think? [1]