Ron Paul to "supervise" the Fed...
Whilst digging through a pile of newspapers sitting in the back seat of my car, I came across an article in last Friday's NY Times Business section.
(Don't have a link since it was the fishwrap, but the author is at norris.blogs.nytimes.com should anyone want to look further into this)
Spencer Bachus is presumed to be the new chair of the House Financial Services Committee. You might remember him as the one spending the past week backtracking from his comment that bank regulation is meant to help the banks, but, I digress...
He has designated Paul to be the chair of the Federal Reserve oversight subcommittee. This will prove interesting, since you might remember Paul wrote a book last year-- "End the Fed." Both he and Bachus seem to consider themselves the reincarnation of Wright Patman, who terrorized Fed chairmen throughout his long career. They both really like the idea of going back to the gold standard, amongst some other harebrained schemes that failed miserably long ago. And they both really, really hate the idea of a central bank.