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View Full Version : Audit the Fed Bill Passes U.S. House [Fin'l Regulation bill w/ Audit the FED amend]




RonPaulFanInGA
12-11-2009, 02:06 PM
http://money.cnn.com/2009/12/11/news/economy/financial_regulatory_reform/


Federal Reserve: The bill would allow Congress to order the Government Accountability Office to audit Fed activities, which the Fed says would interfere with the central bank's ability to carry out independent monetary policy.

paulpwns
12-11-2009, 02:09 PM
misleading title.

HR 1207 didn't pass. The big boy bill did with the Paul amendment

Elwar
12-11-2009, 02:16 PM
So now the Fed will be able to break companies up.

Companies will become too big to exist...

MyLibertyStuff
12-11-2009, 03:11 PM
At least we get an audit if it passes Senate.

Austin
12-11-2009, 03:21 PM
Ron voted against it... lol

http://clerk.house.gov/evs/2009/roll968.xml

klamath
12-11-2009, 03:22 PM
Does it not make you all a bit sad to think how hard we all fought for HR 1207 for cosponsers and then this day that it passes in an admendment to a bill so horrible that RP votes against it and the forum hardly even looks at the announcement thread.

LittleLightShining
12-11-2009, 03:31 PM
Does it not make you all a bit sad to think how hard we all fought for HR 1207 for cosponsers and then this day that it passes in an admendment to a bill so horrible that RP votes against it and the forum hardly even looks at the announcement thread.I think we knew this was going to happen.

paulpwns
12-11-2009, 03:36 PM
It's like surviving a car crash only to realize that you can't move your legs anymore.

Bittersweet.

LibertyEagle
12-11-2009, 03:45 PM
Does it not make you all a bit sad to think how hard we all fought for HR 1207 for cosponsers and then this day that it passes in an admendment to a bill so horrible that RP votes against it and the forum hardly even looks at the announcement thread.

Yes, but think of it this way. The alternative would have been to have this horrible financial regulation legislation WITHOUT the Audit the FED amendment. Now, THAT would have been much worse.

Plus, we should still be pushing the Senate's version of Audit the FED to try to get it passed standalone there.

TortoiseDream
12-11-2009, 03:48 PM
"The bailouts of AIG and Bear Stearns would be not possible -- made illegal -- under this bill," Rep. Barney Frank, D-Mass., chairman of the House Financial Committee, said Wednesday as debate started on the bill. "If a company fails, it'll be put to death." - Fwank

Made illegal just now? So wait, bailing out AIG was legal? Wuhwuhwuhat?

And also, did we get the full audit? Or was the the Wattian scrub brush version?

klamath
12-11-2009, 03:57 PM
I think we all pretty much knew it was going to end up this way and I remember making a post about it then but my sadness is because something we all had such enthusiasm for ended up in a so little fanfare because how it was attached to a horrible bill. This bill was going to pass anyway so at least we have something to be glad for but the chance to cheer was stolen for us.