Former Fed Governor: Ron Paul Is a Kook

There sure is a difference in the way officials speak when they are in power and when they are out of power, though they carry the same theme.

At today's Economic Club of Washington D.C. luncheon, where Fed chairman Ben Bernanke spoke, when asked about his view of Ron Paul's desire to audit the Fed, Bernanke was circumspect and said, "He [Ron Paul] knows my view."

Former Federal Reserve Governor Andrew Brimmer, who served as a Fed governor for eight years, before starting his own consulting business, told me that Ron Paul "is a kook", when I asked him what he thought of Paul's proposal to audit the Fed.

He also told me that Senator Chris Dodd's most recent proposal to strip the Fed of some of its power was "dangerous".

He said he liked the legislation that Barney Frank is putting together.