Thursday, October 8, 2009

HOT: Grayson and Paul Ask for Delay in Bernanke Confirmation Hearings

Congressman Ron Paul continues to put Fed chairman Bernanke's feet to the fire. Paul ,along with Congressman Alan Grayson (D., Fla.), plan to send Senate Banking Committee Chairman Christopher Dodd a letter calling for a delay of Federal Reserve Chairman Ben Bernanke's confirmation hearing until the central bank releases more information about its rescues, according to WSJ.

The letter is being sent to Dodd because it is the Senate and not the House that confirms the Fed chair. It is not clear how much impact that the letter will have in the Senate, but this won't make Bernanke happy. And certainly keeps in the public eye the fact that the Fed still refuses to issue full details on its recent rescue attempts. The Fed has been particularly secretive of its international transactions.

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