Thread: “Is Herman Cain Just Another RINO?â€

“Is Herman Cain Just Another RINO?â€

It Is taking a GIANT leap to call Herman Cain a 'Rino" given the fact that hee has never held a public office. "RINO" Is a definition that should be reserved for people like Newt Gingrich,John Mc Lame, Tim Pawlenty, Sarah Palin,Lindsey Graham and the like .... Cain seems to be a straight shooter,and to sell him short or put a label on him at this particular point In time seems shortsighted to me. I will reserve judgement until I have more facts to work with .... TS

Originally Posted by topsecret10

It Is taking a GIANT leap to call Herman Cain a 'Rino" given the fact that hee has never held a public office. "RINO" Is a definition that should be reserved for people like Newt Gingrich,John Mc Lame, Tim Pawlenty, Sarah Palin,Lindsey Graham and the like .... Cain seems to be a straight shooter,and to sell him short or put a label on him at this particular point In time seems shortsighted to me. I will reserve judgement until I have more facts to work with .... TS

Gee I think many said they would reserve judgement of Obama on many things as well if I remember correctly back in 2008, some benifit of the doubt, inexperience, yadayada yada...This women has a good point...and as far as I am concerned a good point well taken brings caution for me to the mix.

Kathyet

That letter is awesome--I agree whole heartedly!! Mr. Cain does NOT stand for the Constitution because if he did, he would be willing to at least AUDIT the Fed, if not get rid of it altogether. Our Founding Fathers would roll over if they knew about the Federal Reserve and what it does.

Cain is already flip flopping on his stand against raising the debt ceiling. What will he flip flop on next?

Federal Reserve

In early 2011, Cain stated on his radio show that there was no need for an audit of the Federal Reserve (Cain objected to auditing the Federal Reserve in 2010 while hosting the Neal Boortz show).[42] Cain has clarified, however, that while such an audit is not a high priority for him, neither does he object to it. http://en.wikipedia.org/wiki/Herman_Cai ... al_Reserve

Originally Posted by imblest

That letter is awesome--I agree whole heartedly!! Mr. Cain does NOT stand for the Constitution because if he did, he would be willing to at least AUDIT the Fed, if not get rid of it altogether. Our Founding Fathers would roll over if they knew about the Federal Reserve and what it does.

Cain is already flip flopping on his stand against raising the debt ceiling. What will he flip flop on next?

They are rolling in their graves from the DEBT we are in and still climbing. So where are all those cuts the Republicans were going to do?

Just like all the other candidates so far I have seen good and bad reports. But Cain seems to be the better so far. Appears some have already dropped the thought of running. Maybe they could not handle it or they already know they would not be able to change things in DC because of the elites that stand in the shadows. Just a thought

Originally Posted by kathyet

Originally Posted by topsecret10

It Is taking a GIANT leap to call Herman Cain a 'Rino" given the fact that hee has never held a public office. "RINO" Is a definition that should be reserved for people like Newt Gingrich,John Mc Lame, Tim Pawlenty, Sarah Palin,Lindsey Graham and the like .... Cain seems to be a straight shooter,and to sell him short or put a label on him at this particular point In time seems shortsighted to me. I will reserve judgement until I have more facts to work with .... TS

Gee I think many said they would reserve judgement of Obama on many things as well if I remember correctly back in 2008, some benifit of the doubt, inexperience, yadayada yada...This women has a good point...and as far as I am concerned a good point well taken brings caution for me to the mix.

Kathyet

I sniffed out Obama and his lies very early on. I told EVERYONE that would listen that he would destroy this country. He was openly for "Amnesty",and said that It was a priority for him BEFORE he was elected. There are no parallels on this scale here at all. Cain has said flat out "NO AMNESTY"- enforce our laws on the books,and hire LEGAL U.S citizens. At this point In time we have the "status quo" and we have Herman Cain .... I am waiting for others to announce,and I am excited about Michelle Bachmann. Lets see what happens In the coming months ... TS

Originally Posted by topsecret10

Federal Reserve

In early 2011, Cain stated on his radio show that there was no need for an audit of the Federal Reserve (Cain objected to auditing the Federal Reserve in 2010 while hosting the Neal Boortz show).[42] Cain has clarified, however, that while such an audit is not a high priority for him, neither does he object to it. http://en.wikipedia.org/wiki/Herman_Cai ... al_Reserve

Gee is that a flip flop??


Kathyet

The Federal Reserve is already audited,is a cry from some people out there. But reading this piece it is audited but only internally.
http://www.newyorkfed.org/aboutthefed/f ... fed35.html

How the Federal Reserve Is Audited

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All Federal Reserve Banks and branches are audited and examined regularly. The scope and frequency of audits are based on the specific risk factors in each Bank's operations.
Internal audits involve verification of assets, liabilities, and items held in custody.
Auditors evaluate the adequacy of internal controls and compliance with prescribed procedures. Major automated systems also are checked for security and effectiveness.

Periodic Reviews and Examinations
All Federal Reserve Banks and branches, like commercial depository institutions, are audited and examined regularly.

Internal audits are conducted by a permanent audit staff at each Reserve Bank. Each audit staff is headed by a general auditor who reports directly to the Bank's board of directors. In addition, a private CPA firm conducts an annual examination of each Reserve Bank and its branches on behalf of the Federal Reserve Board. External audits were instituted in recent years in place of annual examinations by the Board of Governors to ensure total independence in this process.

Operations at each Federal Reserve Bank also are subject to review by the Government Accountability Office (GAO), the audit arm of the U.S. Congress. However, GAO auditors are restricted by law from reviewing monetary policy operations and transactions carried out by the Federal Reserve on behalf of foreign central banks. This restriction was imposed by Congress to assure the independence of the Federal Reserve from political influence.

The Scope of Audits
The scope and frequency of audits are based on the specific risk factors inherent in each Bank's operations, including the nature of the activities it conducts, the prevailing level of controls surrounding these activities, and the quality and experience of the individuals assigned to the operation.

Internal audits at each Reserve Bank involve verification of assets, liabilities, and items held in custody. Auditors check both the physical presence of these items and the timely and accurate reporting of their movement. An evaluation of the adequacy of controls throughout the Bank and of compliance with prescribed procedures also is done. Audits are performed periodically in order to determine if the auditors' perceptions of prevailing risk levels and operating conditions since the last review remain valid. Periodic audits also help to determine whether previously identified problems and issues were adequately addressed and remedied, and to ascertain whether new problems or issues have emerged.

Although auditing procedures differ among the 12 Reserve Banks, their emphases are broadly similar. At the Federal Reserve Bank of New York, the audit staff reviews the cash, check, fiscal, electronic payments, and accounting areas, and all of the service and professional operations (which include legal, bank supervision and regulation, and research and statistics). It also audits centralized electronic data processing operations and automated systems under development. These audits consist of reviews of the Bank's data centers, with primary emphasis on environmental software products, including data base systems, operating systems, and data communications systems. Auditors evaluate the strength of internal controls and security of each software product, as well as the procedures and controls put in place by the organizational unit responsible for it. An auditor at the Buffalo Branch reviews activities there.

Audits of automated systems under development similarly concentrate on the adequacy of controls and security. These audits are intended to ensure that appropriate checks and balances are in place for each automated processing operation. Audit teams check the accuracy of records pertaining to transactions that flow through the system and certify that systems under development are fully and adequately tested before being placed into production.

Together with two other departments of the Bank, the audit staff controls activities in the Bank's gold vault, which stores about one-quarter of the world's official gold reserves. Auditors monitor all gold transactions, both deposits and withdrawals, and independently verify accounting records and balances pertaining to gold held in custody by the Bank.


April 2008