Rand Paul's Goal in Holding up Janet Yellen's Appointment

Senator Rand Paul woke up the Washington political scene on October 25th by leaking that he intends to place a "Senatorial hold" on the upcoming presidential nomination of Janet Yellen to be the next Chairperson of the U.S. Federal Reserve; unless Senate Majority Leader Harry Reid allows his "Audit the Fed" bill to go to a Senate floor vote. Since its 1913 founding, the U.S. Federal Reserve has been allowed to operate in such relative secrecy it has been described as "like a hall of mirrors and the Fed is that big one at the end that makes everything else look like its upside-down." Rand Paul's goal is to unite conservative Tea Partiers, liberal Progressives, and millennials in a grand coalition to restrain the crony capitalism between Washington DC lobbyists and Wall Street money interests. The Dodd-Frank Wall Street Reform Act's one-time mandated audit of emergency lending activities during the 2008 Financial Crisis is the only published glimpse into the secretive financial dealings...(Read Full Post)