Proving that on occasion the little guy can indeed win, Ron Paul announced tonight that he will be named Chairman of the Monetary Policy Subcommittee.Needing such agreement might render Paul's appointment toothless. But it's a move in the right direction.
When asked if he would take over chairmanship of the subcommittee, Paul replied "The chairman of the financial services subcommittee, Spencer Bachus, has told me today verbally that I will be the chairman of that subcommittee. He was the one who appointed me as the ranking member and he is sticking to his guns and that I will have responsibility of that committee."
When asked about subpoenas and "audit the Fed", Paul went on to say that he can issue subpoenas but would need agreement from the chairman [Bachus] as well as speaker.
Also from Mish: Bloomberg Poll Shows More Than Half of Americans Want Fed Reined In or Abolished