http://www.youtube.com/watch?v=pFyImXmzda0
This guy’s blog entry is here…:
Mr. Cain comes to Iowa
Herman Cain came to Iowa City this morning for a campaign stop. He stopped in Coralville and rode the Hawkeye Express train to Kinnick Stadium to presumably see Iowa’s homecoming game, shake hands, and get his picture taken, etc. I was pleasantly surprised to hear he was coming to Iowa because he’s not getting nearly enough scrutiny despite his frontrunner status. Yes, the media is covering the fact that his 9-9-9 tax plan would raise taxes on 84% of Americans, but they are leaving many stones unturned.
Herman Cain tries to play the victim when comes to his past as a Federal Reserve official. He says questioning his past with the Fed is stupid, despite the fact that the Fed has been secretly loaning money. The Fed gave bailouts to Libya. If an audit wouldn’t produce any useful information as Cain asserts, then why is it that the books are closed? The Federal Banking Agency Auditing Act of 1978 prohibited Government Accounting Office audits of:
- transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
- deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;
- transactions made under the direction of the Federal Open Market Committee; or
- a part of a discussion or communication among or between members of the Board and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection.
As the old saying goes, if the Fed has done nothing wrong, why are they trying to hide what they’ve done? And why is Herman Cain, a former Fed official, so incredulous when it comes to auditing the Fed? We know through partial audits, fought tooth and nail by the Fed, that they gave bailouts to Libya, to failed banks, and they’ve done so in secret. [continued…]