Congressman from Texas, Dr. Ron Paul introduced H.R. 1207, The Federal Reserve Transparency Act. A huge cited problem by the mainstream media has been lack of regulations. The international bankers were creating money out of thin air. Debt was even made an asset from which to borrow new capital. Fast and treacherous investment bankers built gigantic ponzi schemes.
The mainstream press constantly wants to know where the regulators were. Securities and Exchange Commissioners were found to be tied closely with Bernie Madoff and his pyramid scheme. Madoff. however, never even invested the money. The situation is so bad that, kindly, old Warren Buffett is finally starting to post some losses, even with his seemingly endless stream of credit.
Washington lawmakers have been clamoring for some type of legislation to get them off the hook of defending the Constitution from the evil forces of the Fed. Ron Paul's argument agrees that more regulation is needed. Ron Paul wants to regulate the Federal Reserve! The Fed
is always creating problems (bubbles) and then coming up with the cures to fix the ills that poor monetary policy has inflicted. Because of their strict control of the debate in the media, a very few people have control of the actual policies of the Federal Reserve. Because their role never is never mentioned as the source of all inflation and market instability, the Fed is able to hide in the shadows using the defensive argument that their banking services are a "necessary evil." However, the Constitution never provided for a national bank.
One of the best opening statements ever on live T.V. in front of Bernanke!