The Republicans have been in power since January 2011 and have done zero on Fannie and Freddie.

The constitutionality of my provision is what it says in the Constitution, that important government officers should be appointed by the President, subject to confirmation by the Senate.

I think it is a terrible mistake to require all of the Federal Reserve Bank presidents to be appointed and confirmed by the Senate.

I understand that, but I assume that is what you wanted when you voted not to subject them to the appropriations process.

I think it will be less independent as a Fed, because as you know, the regional bank presidents have an independent staff...

That is a very good question and proves why we shouldn't pass the bill.

I think it should be a government entity.

I would be concerned about how you would do that statutorily.

I do not think that private citizens should pick other private citizens with no intervention from any electoral process.

I think that is just a mistake, and it is not that bankers are bad people or others.

The biggest power the Federal Reserve had to intervene freely with Section 13.