I truly enjoyed (in an ironic way) Mel Watt’s grandstanding against Tom Woods after Tom’s prepared remarks. It reminded me of the good ol’ days when I was a lobbyist and politicians thought they were making an important point by asking me aggressively pointless questions.

But it especially reminded me of Mencken’s description of Congress: “Congress consists of one third, more or less, scoundrels; two thirds, more or less, idiots; and three thirds, more or less, poltroons.” A poltroon, by the way, is a pusillanimous jackass.

Rarely however, have I heard so many politicians sounds sensible. Even Michelle Bachmann, who once hysterically labeled most of her political opponents as “anti-American” seemed un-horrible. And Barney Frank sounded downright regal compared to that lawyer from the Fed they trotted up there to answer every single question on earth other than the ones that were asked.

But there are few things more pleasurable than seeing the Federal Reserve insulted and lambasted for three full hours. A year ago, when Ron Paul was the one being insulted, I would have told you that a scene like today’s hearing would never happen in my lifetime.

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