Catsnmeters
Gold Member
- Sep 19, 2022
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Is this proof of hyper inflation?After making the comment about the Fed, Patman was put out to pasture by the democrats.
In 1975, Patman was voted out of his position as Chairman of the Banking committee by younger Congressmen, in a revolt against the 'Seniority system' which also removed Felix Edward Hébert and William R. Poage from their positions as chairmen. Patman was replaced by Henry S. Reuss by a caucus vote of 152–117. The main reason given for the caucus removing Patman was concern about his age and effectiveness.
And the Republican I mentioned, he was sent packing out of Washington as well.
After the expulsion from Washington, D.C., of the veteran petitioners of the Bonus Army, which he called "the greatest crime in modern history", McFadden moved to impeach President Herbert Hoover in 1932,[8] and he also introduced a resolution bringing conspiracy charges against the Board of Governors of the Federal Reserve. The impeachment resolution was defeated by a vote of 361 to 8; it was seen as a big vote of confidence to President Hoover from the House.[9] According to Time magazine McFadden was "denounced and condemned by all Republicans for his 'contemptible gesture'."[4][9] The Central Press Association reported that he was "virtually read out of his party ... [had] his committee posts ... taken away from him…was ostracized by Republicans [and] called crazy ...".[10] Sen. David A. Reed (R-PA) said "We intend to act to all practical purposes as though McFadden had died".[11]