Senator Paul threatens to block Yellen nomination


In what probably shouldn't be too much of a surprise, Kentucky Senator Rand Paul is threatening to put Janet Yellen's nomination to lead the Fed on hold, according to Steve Liesman. At issue, is Paul's demand for a vote on his Fed transparency bill.

Comments (17)
  • Ishi Kenjo
    , contributor
    Comments (328) | Send Message
     
    Fed transparency is a fair demand.
    25 Oct 2013, 10:51 AM Reply Like
  • redarrow5150
    , contributor
    Comments (1375) | Send Message
     
    So he brings this up with the Chairperson but doesn't introduce a bill? How about a commission examining the FED's transparency? Don't understand why this is an issue with a new FED coming versus 6-9 months ago??????
    25 Oct 2013, 10:57 AM Reply Like
  • Rope a Dope
    , contributor
    Comments (708) | Send Message
     
    Introduced January 26, 2011.

     

    http://1.usa.gov/1a5e6l3:
    25 Oct 2013, 11:53 AM Reply Like
  • redarrow5150
    , contributor
    Comments (1375) | Send Message
     
    Nothing on the link.
    26 Oct 2013, 08:52 PM Reply Like
  • Rope a Dope
    , contributor
    Comments (708) | Send Message
     
    I'm not sure what happened to the link but I can see part of the http address was altered for some reason. Here's another to the PDF version, hopefully this one works.

     

    http://1.usa.gov/1dyU4qg
    27 Oct 2013, 04:52 AM Reply Like
  • redarrow5150
    , contributor
    Comments (1375) | Send Message
     
    So what does this have to do with Yellen coming in? Does the Senator want the position vacant? So I guess his bill got shot down and so he's going to stall this?
    28 Oct 2013, 03:11 PM Reply Like
  • Rope a Dope
    , contributor
    Comments (708) | Send Message
     
    redarrow, Paul and others would like an audit of the Fed and one way to try to get this is to attempt to hold up Yellens nomination unless this passes. Your original comment had a remark about a commission to examine transparency; regardless of how they approach this, full transparency will never be achieved without a full audit.

     

    10 plus years ago I didn’t have much of an opinion on the demand to fully audit the Fed but the more they fight this the more I want a full audit. If they have nothing to hide, why deny a full audit? The Fed, according to law, is supposed to answer to Congress which is essentially the American people. You can look at every department in every branch of the Federal Government and find they no longer believe they work for the American people. Our (sic) government is completely out of control.
    29 Oct 2013, 08:16 AM Reply Like
  • redarrow5150
    , contributor
    Comments (1375) | Send Message
     
    I get what he's doing but don't believe he's going about it the right way. If Paul wants full disclosure then he needs a full court press in getting legislation done and not with blocking of a nominee. He tried this before and wasn't successful and now he's just using this as a P.R. move to get attention. This is nothing more than a political move where as if it's important enough to him he should be pitching his collegues in getting a bill passed.
    29 Oct 2013, 10:51 AM Reply Like
  • Rope a Dope
    , contributor
    Comments (708) | Send Message
     
    redarrow, if Harry Reid would stop blocking a vote on the legislation then none of this would be necessary.
    29 Oct 2013, 11:01 AM Reply Like
  • redarrow5150
    , contributor
    Comments (1375) | Send Message
     
    Well that's democracy. Perhaps if he would get bipartisan support in working with Democrats something could get done.
    29 Oct 2013, 11:15 AM Reply Like
  • Rope a Dope
    , contributor
    Comments (708) | Send Message
     
    This is more like a Dictatorship than a Democracy. I expect that to change after the 2014 mi-terms though. It is highly unlikely that Dems will be able to buy enough votes to overcome the trainwreck called Obamacare.
    29 Oct 2013, 11:32 AM Reply Like
  • redarrow5150
    , contributor
    Comments (1375) | Send Message
     
    Huh? So Paul can't get people behind him...or DOESN'T want to work with others? What does Paul lack of being able to work others to get FED being more transparent have to do with Obamacare? So he has to get majority of only Republicans to get a bill passed? That's how compromise works in getting a bipartisanship bill to go through. So I guess Paul can't get to work for others? Trainwreck perhaps but Dems also weren't viewed as shutting down the government. Doesn't matter but there's glaring issues for Senator Paul if he can't work with others in developing and working with others to getting legislation passed. Doesn't matter with what Reid wants or does if he gets backers on both sides pushing this bill.
    29 Oct 2013, 08:01 PM Reply Like
  • Rope a Dope
    , contributor
    Comments (708) | Send Message
     
    Redarrow, ‘huh’ pretty well sums it up! This same legislation has already passed in the House, Harry Reid just refuses to allow the Senate to vote on it. You need to learn a little more on how bills move through Congress.

     

    Your calls for ‘compromise’ on the part of Republicans is laughable when you have a President and Senate Majority Leader whose motto is ‘we refuse to negotiate’. Liberals love to compromise as long as they get everything they want. And as far as I’m concerned, Democrats bear 100% of the responsibility for shutting down the government. Obamacare is not ‘perhaps’ a train wreck, it’s absolutely a train wreck. Republicans were labeled as terrorists for trying to delay Obamacare implementation but now that the wheels are coming off the tracks, Democrats are now calling for a delay so I guess they’re terrorists too.

     

    Everything Democrats have said about Obamacare is turning out to be either a blatant lie or an enormous miscalculation. Everything the Republicans have said about Obamacare is turning out to be true and the damage is unfolding right before our eyes. Good luck in the mid-terms.
    30 Oct 2013, 04:53 AM Reply Like
  • redarrow5150
    , contributor
    Comments (1375) | Send Message
     
    Not a Democrat. As for bills...yes I do understand the process but there's political will and pressure to have Reid bring this up for vote and Paul doesn't have bipartisian support to do so. Heck I wish he would and bring pressure to Reid but if he can't form a coalition or get others to join him that's HIS failure. Not even going to go about other things you mentioned as I want this to stay on topic. I hope Paul continues to ask for transparency but he needs to build some support from both parties.
    30 Oct 2013, 09:44 AM Reply Like
  • Hubert Biagi
    , contributor
    Comments (908) | Send Message
     
    While I commend Rand Paul's motives, the idea that the corrupt Congress and their beltway cohorts should have increased influence over the Fed is laughable.
    25 Oct 2013, 11:13 AM Reply Like
  • Intangible Valuation
    , contributor
    Comments (593) | Send Message
     
    Wish I could disagree, but I don't. The Fed, for all its faults, should stay at an arms length from congress.
    25 Oct 2013, 11:42 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11339) | Send Message
     
    Rand, once again, is fighting a valiant but utterly useless battle.
    25 Oct 2013, 12:43 PM Reply Like
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