Yeah, when asked "what if it [the result of the audit] turns out that the Fed needs to be abolished", she says she doesn't want to speculate the future. Well I just like to call that planning ahead. Politicians aren't really used to that idea.

She dodged the question about abolishing the Fed but clearly has no idea in so many areas such as the history of central banking, the history of money and paper currencies, how the market place operates and the role of money in it. To make matters worse she is oblivious to the role the government, including the Fed action in making credit available at the same time the Community Reinvestment Act of 1977 put banks in the position where to maintain a triple A rating they had to generate large volumes of loans to previously unqualified applicants, otherwise they would get an unsatisfactory rating! In other words the government was the root cause of the crises known as the subprime mortgage crisis, but rather than assume responsibility they are pointing to the bankers as being greedy and irresponsible! They have this Congresswoman believing it. She referred to investigations going on of the private banking system (doesn't she realize that the Federal Reserve System is private also? Obviously not!) and that will lead to new regulations of them. I haven't listened to the whole interview but wonder if anyone dared to point these things out to her. If she were my congresswoman I would email her with recommendations of books to read and websites to explore. Whole books are on www.mises.org Wm