WC Varones

Don't lend your hand to raise no flag atop no ship of fools

How Barney spent his summer vacation

It seems Barney Frank is crafting a bill that gives even more power over the financial sector to the Fed gvt. I wouldn't argue against any proposed reforms until I see what they are, but it's interesting here that Barney is including in this "sweeping" bill the power of Congress to audit the Fed. He cites Ron Paul as a supporter, as if that assures conservatives that there couldn't be anything objectionable in the rest of the bill. I wonder if he's including clauses that are attractive to conservatives for the sake of passing other clauses that might be too "sweeping" for them otherwise. We'll see.

[Full article here]
As chairman of the House Financial Services Committee, Frank is busy assembling a complex bill to give the federal government unprecedented control over the country’s financial institutions. It is as ambitious as any legislation jolting town halls and cable-news programs, and one that calls upon Frank’s lesser-known skills: discreet negotiation instead of the impatient insult showcased last Tuesday night in Dartmouth, when he belittled a woman who accused him of supporting a “Nazi policy’’ on health care.


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