Back on election day, Esther George (CEO of KC FED) came to my school to give a speech about what the Federal Reserve does, the state of the economy, etc.
When it came for questions, I gave her a couple of difficult ones:
1, Can you explain the $16 trillion bailout the Federal Reserve gave certain institutions during the financial crisis?
2. Can you comment on Ron Paul & his criticism of the Federal Reserve and how it causes the business cycle?
She of course gave the typical establishment answers. But, given that this was election day I was glad I was able to have Ron Paul mentioned on such a gloomy day when you had morons running around proud of the fact that they voted for either one of two nitwits.
She even mentioned the Austrian School although she completely dodged the part of the question regarding the cause of business cycles. I also found it amusing that she said “Ron Paul would abolish the Federal Reserve but fortunately he’s not on the ballot so I don’t have to worry about that”!
Here is the link – http://cba.k-state.edu/about/George-Lecture.html
I ask my 1st question at about 35:55, and 2nd question at about 43:25. Enjoy!
