Thursday, November 19, 2009

Audit the Fed - fighting for the truth has many hurdles

One of the hurdles was detailed in today's HuffPost by Ryan Grim:

As the debate over an audit of the Federal Reserve intensifies in the House, one camp is trotting out eight academics that it calls a "political cross section of prominent economists."

A review of their backgrounds shows they are anything but....

Grim continues to tell the truth about the lies being spread to wrongly Defend the Fed. Essentially, The Bad Guys The Fed Defenders are telling the truth... but not the whole truth and nothing but the truth. Typical. They commit lies of omission, not lies of commission:

But far from a broad cross-section, the "prominent economists" lobbying on behalf of the Watt bill are in fact deeply involved with the Federal Reserve. Seven of the eight are either currently on the Fed's payroll or have been in the past.

The Fed connections are not outlined in the letter sent around to committee members on Wednesday, but are publicly discernible through a review of their resumes, which are all posted online.

Guys like Congressman Mel Watt are the problem with Washington.

Tim White

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