by Mike Masnick
Mon, Dec 13th 2010 3:24pm
As things shift around in the House of Representatives following a switch in party leadership, there's usually lots of big talk about change, but the end result is usually more of the same, with a slightly different emphasis, and perhaps different language to play up or minimize what the "other guys" wanted -- even though, in general, the policies are all pretty similar. However, there is one interesting move that's been made: Ron Paul has been put in charge of the Domestic Monetary Policy Subcommittee, which is the group that oversees the Federal Reserve. That's going to be fascinating to watch, since Ron Paul has been a very outspoken critic of the Federal Reserve itself, and has, in the past, introduced legislation to abolish it, as well as to run a full audit of the bank's operations. It's a shame how few people actually understand how the Fed works (and how much of an impact it has on the overall economy), but it might be in for a serious shakeup for the first time in ages.
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