The times, they are a-changin’. Unthinkable only a year or two ago, the prospect that Congressman Ron Paul may actually receive the long-deserved chairmanship of a House subcommittee grows brighter by the day. And Paul’s longtime nemesis, Federal Reserve Chairman Ben Bernanke, may soon find his chief congressional detractor in a position to do a good deal more than mere finger-wagging.
Another of the House mighty has fallen. Charles Rangel (D), 40-year veteran Congressman from Harlem and the senior member of the New York state congressional delegation, was convicted today of 11 counts of misconduct by a House ethics panel.
Responding to the results of the midterm elections, the moderate Blue Dog Coalition of Democrats in Congress is asking House Speaker Nancy Pelosi to step down from her leadership role. Utah Representative Jim Matheson, a co-chairman of the Blue Dogs, states that Pelosi should not be a candidate for Minority Leader.
In the 111th Congress Rep. Ron Paul (R-Texas) introduced legislation to perform a wide-ranging audit of the Federal Reserve. That bill was, in Paul’s words, “gutted” before it came to the floor for a vote. Ultimately only a few very weak provisions of Paul’s original bill became law.