During last week’s long awaited Audit the Fed hearings, Barney Frank got his panties in a wad when Tom Woods said the following in his opening statement:
I couldn’t imagine any self-respecting American, who isn’t bought and paid for, hesitating for a moment to challenge that kind of independence.
Robert Wenzel reports:
Of course, maybe the problem that Frank had with Woods’ testimony is that it hit a little too close to home. Many of Frank’s donors are clear beneficiaries of Fed money printing activities. The top donor to Frank, so far, in 2009/10 is FMR Corp (the parent name for Fidelity). Others in the top 20 donors for Frank include the American Bankers Association, the American Financial Services Assn, the Independent Community Bankers of America and, one of the greatest beneficiaries of past easy money policy, the National Assn of Home Builders. Did Frank have a guilty conscience and mistakenly think that Woods was referring to him?
Watch Barney’s guilty conscience come to light here.
Tom Woods’ follow-up article here.