Bernanke gets politics lessons « Mostly Economics

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saeed valadbaygi wrote an interesting post today on
Here’s a quick excerpt
NYT has a superb article on how Bernanke is getting political lessons. Ron Paul, Texas Republican wants to audit the Fed and take control of Fed. Bernanke has been opposing the move in his speeches/testimonies (see this previous post …

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If I lived back in the wild west days, instead of carrying a six-gun in my holster, I'd carry a soldering iron. That way, if some smart-aleck cowboy said something like 'Hey, look. He's carrying a soldering iron!' and started laughing, and everybody else started laughing, I could just say, 'That's right, it's a soldering iron. The soldering iron of justice.' Then everybody would get real quiet and ashamed, because they had made fun of the soldering iron of justice, and I could probably hit them up for a free drink...
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