Summary: On Thursday afternoon, Ron Paul chaired the 12th meeting of the House Financial Services subcommittee on Domestic Monetary Policy and Technology in the Rayburn House Office Building. This hearing, entitled: “Fractional Reserve Banking and the Federal Reserve: The Economic Consequences of High-Powered Money”, really gets at the heart of the bankocracy that rules present-day America. The subcommittee called three witnesses in to testify: Dr. John Cochran (Professor of Economics - Metropolitan State College of Denver), Dr. Joseph Salerno (Professor of Economics - Pace University), and Dr. Lawrence H. White (Professor of Economics - George Mason University). Would anyone be surprised that the Congress-critters (and the Democrats in particular) aren't too interested in learning about / debating fractional reserve banking
