Barney Frank goes Jacksonian
By Arnold Kling
“No one in a democracy, unelected, should have $800 billion to spend as he sees fit,” said Mr. Frank.
Andrew Jackson felt similarly, which is why he refused to renew the charter of the second Bank of the United States. The U.S. then went without a central bank for the rest of the 19th century.
I just get a chuckle hearing a Congressman complain about someone spending other people’s money.