Sunday, July 12, 2009

Audit the Fed!!

Here's the Register's editorial heartily endorsing Ron Paul's bill, HR 1207, to audit the Federal Reserve System. Since the Fed was a major contributor to the recent financial meltdown and is slated to acquire even more power under Pres. Obama's -- and Ben Bernanke's -- plan for federal financial regulatory overhaul, perhaps it's not surprising that the proposal has received so much support, sometimes from unexpected quarters. I suspect they'll never have committee hearings or move the bill to the floor -- and I'm not sure whether an audit would uncover enough sexy corruption, as compared to massive power misuse -- but its very presence on the docket is a healthy sign.

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