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View Full Version : Sanders sold out on Audit The Fed Amendment




low preference guy
05-06-2010, 03:16 PM
Sanders, on the Senate floor, hinted at the agreement. "Would allow the GAO to conduct a top-to-bottom audit of all of the Federal Reserve's emergency lending activities since December 1, 2007. In addition, the modifications require the Fed to put on its Web site all of the recipients of over $2 trillion in emergency assistance since December 1, 2007," Sanders said.

If the amendment limits the audit only to emergency lending, the GAO would be barred from looking at the Fed's foreign central bank swaps and its purchasing of mortgage debt from Fannie Mae and Freddie Mac, which is considered part of open market operations and not emergency lending.

A copy of the modifications was not immediately available.

http://www.huffingtonpost.com/2010/05/06/fed-audit-amendment-deal_n_566661.html

Even Dodd voted for it.

devil21
05-06-2010, 03:32 PM
This was the same amendment proposed by Dodd in the first place. Thanks for nothing Bernie "Socialist" Sanders.

specsaregood
05-06-2010, 03:35 PM
I think this is incorrect. There are 2 different amendments.
1. is the regular audit the fed.
2. is the review of the special lending stuff

low preference guy
05-06-2010, 03:37 PM
I think this is incorrect. There are 2 different amendments.
1. is the regular audit the fed.
2. is the review of the special lending stuff

This Reuters article says that the audit became about auditing the special lending stuff and nothing else.

http://www.reuters.com/article/idUSWBT01391320100506

specsaregood
05-06-2010, 03:39 PM
This Reuters article says that the audit became about auditing the special lending stuff and nothing else.

http://www.reuters.com/article/idUSWBT01391320100506

I dunno, on cspan senate floor they were just talking about it as 2 seperate amendments.

LittleLightShining
05-06-2010, 03:39 PM
Well, come on. Did you guys really expect anything else? They all compromise and sell out. Except Ron Paul. That's why we love him so much.

low preference guy
05-06-2010, 03:39 PM
I dunno, on cspan senate floor they were just talking about it as 2 seperate amendments.

Did you read the article? Sanders himself said so.


U.S. Senator Bernie Sanders, an independent, said on Thursday he has narrowed his proposal to expose the Federal Reserve's use of its emergency lending authority in the 2008-2009 financial crisis.

It's a fucking joke.

specsaregood
05-06-2010, 03:43 PM
Did you read the article? Sanders himself said so.

It's a fucking joke.

You may be right, in which case the people speaking on the senate floor are lying or confused.

hugolp
05-06-2010, 03:45 PM
One could say this was the plan from the beggining.

IPSecure
05-06-2010, 03:45 PM
...lying or confused.

= Bought Off.

low preference guy
05-06-2010, 03:46 PM
You may be right, in which case the people speaking on the senate floor are lying or confused.

I think it might still be two amendments about two different things:

1. Audit what they did in 2007/08.
2. Decide on the Fed authority to do something similar in the future.

Guitarzan
05-06-2010, 04:18 PM
From Ron Paul's Facebook Page...

Ron Paul

Bernie Sanders has sold out and has sided with Chris Dodd to gut Audit the Fed in the Senate. His "compromise" is what the Admintration and banking interests want - they'll allow the TARP and TALF to be audited, but no transparency of monetary policy decisons, discount window operations or agreement with foeirgn central banks.
about a minute ago · Comment ·LikeUnlike

fj45lvr
05-06-2010, 04:26 PM
so we're going to just sit by and watch it all go down and just merely feel frustrated?


Let's do something....wish those in the FED were too afraid to go out in public.

specsaregood
05-06-2010, 04:29 PM
From Ron Paul's Facebook Page...
Bernie Sanders has sold out and has sided with Chris Dodd to gut Audit the Fed in the Senate.
Well there it is.... :mad:


so we're going to just sit by and watch it all go down and just merely feel frustrated?
Let's do something....wish those in the FED were too afraid to go out in public.

Is it time to go icelandic on their asses yet?
http://i.telegraph.co.uk/telegraph/multimedia/archive/01553/iceland1_1553853c.jpg

Brooklyn Red Leg
05-06-2010, 04:31 PM
Nice to see Senator Sanders is a coward and a creep. What a fucking douchebag. Hope he loses his reelection.

Guitarzan
05-06-2010, 04:32 PM
Not to mention Demint didn't seem to put up too much of a fight either.

purplechoe
05-06-2010, 04:34 PM
http://www.willisms.com/archives/berniesanderssocialist.gif

BenIsForRon
05-06-2010, 04:48 PM
Is Ron Paul the only truly consistent congressman we have? Every one else I like ends up giving in at one stage or another.

I'm waiting to see Bernie's reasoning on this. That is, if he ever addresses it at all.

amy31416
05-06-2010, 04:51 PM
Just arrived:


May 6, 2010


Dear C4L Member,

Any time you find out Senator Chris Dodd is in support of something – watch out.

According to our sources on the Hill, Senator Bernie Sanders caved to pressure from the White House and Chris Dodd and stripped out the Paul-Grayson language from his Fed transparency amendment.

What Sanders is now proposing is essentially the Watt amendment we all opposed last year in the House. In addition, it supports just a one-time audit.

Talking Points Memo reports that, “In order to allay some of the White House's and the Fed's concerns, Sanders has agreed to limit the scope of what the Government Accountability Office would be allowed to audit--but his plan will still require thorough review of all the Fed's emergency lending, beginning December 1, 2007.”

Call Senator Sanders’ office at (202) 224-5141 and tell him how you feel about this last-minute sell out.

Click here for contact information for your senators and urge them to oppose the Sanders Sellout. Tell them to put back in the original Paul/Grayson language.

A vote could come even late tonight or early tomorrow. Let your senators know where you stand right away.

The American people deserve a real audit.


In Liberty,



John Tate

President

low preference guy
05-06-2010, 04:54 PM
Is Ron Paul the only truly consistent congressman we have? Every one else I like ends up giving in at one stage or another.

I'm waiting to see Bernie's reasoning on this. That is, if he ever addresses it at all.

The amendment is a joke. It's a one-time only audit on the emergency lending of 2007/08.

IPSecure
05-06-2010, 05:08 PM
Sold Out (http://www.protestmusic.org/soldout/sold-out.mp3)

tropicangela
05-06-2010, 05:10 PM
http://www.auditthefed.com/?mode=actionpage

devil21
05-06-2010, 05:14 PM
http://www.auditthefed.com/?mode=actionpage

It's taking all the willpower I have not to send an extremely nasty message to Sell-Out Sanders. Im not sure Im prepared to deal with men in suits at my door just yet. It's getting there tho...

Brooklyn Red Leg
05-06-2010, 05:26 PM
Well, Bernie can no longer call himself a Socialist. Nope, he's a full on Corporatist/Fascist. Hope he gets an ulcer over this.

Anti Federalist
05-06-2010, 05:33 PM
Is it time to go icelandic on their asses yet?
http://i.telegraph.co.uk/telegraph/multimedia/archive/01553/iceland1_1553853c.jpg

If that was happening here, SWAT and military assets would be sent.

People would be cut down by the the hundreds .

emazur
05-06-2010, 05:51 PM
"progressives" always seem to cave on critical legislation - William Jennings Bryan voted for the Federal Reserve act, Kucinich voted for the healthcare mandate, and now Sanders guts the audit the Fed bill.

Anyway, here's Ron Paul's response:
http://www.house.gov/apps/list/press/tx14_paul/SenateSellout.shtml

Senate Sellout Threatens Congressman Paul's "Audit the Fed" Bill

Taxpayers Deserve a Full, Transparent Audit of the Federal Reserve by the GAO




Washington, D.C. - Congressman Ron Paul (TX-14) expressed disappointment that his landmark legislation to audit the Federal Reserve Bank- which passed by a wide margin in the House Financial Services committee and has over 319 House co-sponsors- was threatened by a compromise in the Senate today.

More specifically, Paul’s language (passed by the House) to audit the Federal Reserve has been stripped from the Sanders Amendment to the Senate financial reform bill. Instead, the Sanders Amendment now contains softer compromise language that exempts monetary policy decisions, discount window operations, and agreements with foreign central banks from Government Accounting Office (“GAO”) audit.

This is of particular concern when several countries such as Greece, Portugal, and Spain are seeking IMF help in the midst of their financial crises, because American taxpayers provide fully 17% of all IMF funding.

“Taxpayers are weary of bailing out privileged banks and corporations in the US, and we certainly cannot afford to bail out entire countries. The possibility of this happening behind a veil of Federal Reserve secrecy is not acceptable,” stated Congressman Paul. “This compromise language represents a huge missed opportunity by Congress to finally make the Fed accountable for trillions of taxpayer dollars it administers. Full transparency, via a full GAO audit, is the only acceptable option. However, I am grateful to Senator Vitter for offering the original full audit language in an alternative amendment to the bill.”

IPSecure
05-06-2010, 05:56 PM
YouTube - Sanders Amendment Update (http://www.youtube.com/watch?v=7II2diHymv4)

Vessol
05-06-2010, 06:00 PM
As much as I saw this coming, my anger is great >:(

fj45lvr
05-06-2010, 06:59 PM
LOOKS like a bunch of road flares/fireworks... what is this photo??



If that was happening here, SWAT and military assets would be sent.

People would be cut down by the the hundreds .

would that then be the "shot heard round the world"??? It's obvious that we have to push the envelope to get them to make the first move.

Imaginos
05-06-2010, 08:18 PM
I had a hunch that Sanders might stab Ron Paul (and us, American people) in the back, and he surely did.
:mad:

axiomata
05-06-2010, 08:21 PM
I had a hunch that Sanders might stab Ron Paul (and us, American people) in the back, and he surely did.
:mad:
Never trust a socialist.

catdd
05-06-2010, 08:22 PM
He talked a good game until the chips were down. At least with guys like "Bailout Bob" you know what to expect.

specsaregood
05-06-2010, 08:47 PM
//

RM918
05-06-2010, 08:52 PM
And in the comments, the liberals are cheering Bernie and calling him a 'True statesman'! Christ, a Democrat could pass a bill requiring that any teenager with one leg slightly longer than the other be thrown into a firepit and these jackholes would be the first to line up to lick his shoes. It's all Blue vs. Red to these guys, it's pathetic.

Cowlesy
05-07-2010, 06:59 AM
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