Sunday, August 30, 2009

Federal Reserve Transparency Act of 2009

A bill that I figured would never have a chance in the House has proceeded into committee. Its a simple bill, as are most of the ones proffered by Ron Paul, to audit the Federal Reserve.

There's no real rational argument to leave the Fed unaudited, and this will make such an audit happen.
Looking at the list of co-sponsors of HR 1207 serving on the House Financial Services Committee, this bill will likely pass through the committee and into a general session vote. From there, it goes to the Senate, the Senate Finance Committee, and then the president. Every one of those steps is a likely death trap for this bill, but its worth pushing through.

If nothing else, its a bright spot in a realm of encroaching political darkness.

5 comments:

Solameanie said...

Welcome back, we've missed you!

As for Mr. Frank's bill, it will be interesting to see what happens to it (and him). When you mess with the Federal Reserve, bizarre things have been known to crop up.

Palm boy said...

Thanks Joel. :D


Interesting things, hmm? I doubt Frank will be the fall guy, he's been far to kind of a blubbering fool to the Fed to be capped right now.

However, if there is an unfortunate accident involving Mr. Frank, then I never said the above paragraph. :D

Solameanie said...

Just for clarification, your original post referenced Ron Paul, but the Fox News story I saw said that Barney Frank sponsored this, which surprised the dickens out of me.

Palm boy said...

It was originally drafted and created by Ron Paul, I am surprised to see Frank hoping on this bandwagon now.

Sra. Madera said...

Ah, but remember, they don't read the bills. They just vote on them so if Barney sponsored it then it will probably pass.