Ron Paul’s Federal Reserve audit under consideration in Senate

[bobbyw24]

In legislation that Texas Representative Ron Paul has attempted to get through Congress for a number of years, his proposal that would require an GAO audit of the nation’s Federal Reserve is pending inclusion into a financial reform bill in the Senate.

Paul’s D.C. office said they are hopeful that the bill will be officially included by the end of next week.

Paul’s “Audit the Fed” legislation has already been approved by the House of Representatives last year and is awaiting passage in the Senate. The bill would require the audit’s findings to be presented to Congress and be made publicly available.

“With unprecedented turmoil in the financial markets, the people are demanding to know and understand the extent of the Federal Reserve’s involvement in the creation of out-of-control business cycles, who they are helping, and how,” Paul argued shortly before his bill’s passage in the House.

http://www.smallgovtimes.com/2010/03/paul%E2%80%99s-federal-reserve-audit-under-consideration-in-senate/comment-page-1/

[bobbyw24]

By Bob Unruh
© 2010 WorldNetDaily


A proposal on which U.S. Rep. Ron Paul, R-Texas, has been working for much of the last decade is getting close to reality: an audit-the-Federal-Reserve requirement that has been approved in the U.S. House and is pending in the Senate as an amendment to a piece of financial-reform legislation.

"They're still negotiating," said a spokeswoman for the congressman's office. "We're very hopeful that it's going to be included, maybe ... by the end of next week."

U.S. Rep. Ron Paul, R-Texas


She told WND that Paul would be pleased to have it pass as it stands.

The plan, now pending before the Senate Committee on Banking, Housing and Urban Affairs after being approved by the House at the close of 2009, would provide for "an audit of all actions taken by the Board of Governors of the Federal Reserve System and the Federal reserve banks during the current economic crisis."

It provides for the Comptroller General of the U.S. to issue a report on the audit to Congress "and make such report available to the public."

It's about time, wrote Alex Newman in a commentary at The New American.

"Congress should swiftly audit the Fed. And after the American people find out what has been going on, it should be promptly abolished," he wrote.

http://www.wnd.com/index.php?fa=PAGE.view&pageId=127848

[Wolverine302]

ok, lets say this bill passes congress, and obama voted for it and whatever is left that stands in its way. do you think we will have all the answers in this audit? don't you think the Fed has shredded up any shady deals it has done in the past? or at least the most controversial ones?