Louis Mac Attacks the Beast
US Representative Louis McFadden is surely a senior figure, he had been Chairman of the House Banking and Currency Committee for twelve years, which is surely a good place to be to know what was going on. In 1932 he stood up before the House of Representatives and launched a tirade at the Federal Reserve, accusing them of deliberately engineering the Depression. He later brought a motion to impeach President Hoover and bring conspiracy charges against the Board of Governors of the Federal Reserve. Calling the Federal Reserve one of the most corrupt organisations in history, he went into astonishing details to illustrate his point. McFadden wanted to drive up to the Federal Reserve immediately and arrest everybody. Only seven voted with him, he was utterly crushed in the vote. He was derided and shunned and driven out of politics.
Some detail of what he was saying here. On the other hand, here’s another analysis of what he’s saying.
Maybe McFadden was the crazy that many people called him at the time, though there were a whole seven who agreed. But he had been served long-term office and at least one eminent Nobel Prize winning economist, Milton Friedman, agrees with McFadden, that the Federal Reserve did cause the Great Depression with its contraction of the money supply. And somebody definitely wanted his mouth shut. He survived being shot at and being poisoned and finally died of intestinal flu after attending a banquet in New York.