[ARTICLE] Ron Paul Explains Why He Can’t Vote for His Own Fed Audit

[Reason]

http://blogs.wsj.com/economics/2009/...own-fed-audit/


By Damian Paletta

Rep. Ron Paul (R., Texas), author of an amendment to allow the Government Accountability Office audit monetary policy decisions made by the Federal Reserve. Mr. Paul said he’s proud of the amendment but wouldn’t vote for the broader bill to overhaul financial market rules because he objects with a number of its provisions. He spoke Friday to the Wall Street Journal.


Rep. Ron Paul (R., Texas). (Getty Images)

You are expected to vote against the bill on final passage, but will there be some silver lining if this bill passes because it has your provision?

Paul: Yeah, I think so. I think it’s not final, and there’s a long way to go. But it sends a very powerful message. Not only did we pass it in the House, but we keep getting new cosponsors on the bill. I think its 316 now. It keeps going up, and the momentum is there. And hopefully the grassroots will direct their momentum towards the Senate.

Did you consider voting for the broader bill to support your amendment?

Paul: For some people who work in a conventional way, it would be, but not for me. People have asked me, and I say I’ll just do what I usually do. I’ll look at the whole bill, and try to make the bill as good as possible but if it’s still something I can’t endorse, then I’ll vote against final passage. But I always try to support all the amendments that I think will improve it, but I treated my amendment like I treat every other amendment.

[cpike]

Are you surprised? It's nice it at least got into this bill, but it needs to pass in a stand-alone form.

[Reason]

Are you surprised?

No.

Are you?

[cpike]

Sorry, its just one of my peeves when people state the obvious.

[jmdrake]

Yeah, we knew this. It's still a win win. If the bill passes we get an audit If it doesn't pass then Obama has been blocked from giving the fed even more power. Hey, maybe someone can attach an amendment banning the BATF to the healthcare bill?

[LibertyEagle]

It's not accurate to say that he won't vote for the Audit the FED bill. He would vote yes for that all day long. What he WON'T vote yes for is the larger financial regulation bill that his amendment is attached to.

1207 itself has still not been released from cmte. as a standalone bill and it needs to be.

[tangent4ronpaul]

Does anyone know what the vote was to get the amendment added to the bill - including a R/D breakdown?

thanks,

-t

[Reason]

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[Brian4Liberty]

What does the full bill do? Give more power to Barney Frank, the Fed, and Goldman Sachs? Who would vote FOR that?

[RM918]

Sort of figured. It's nice we still got the full bill in there, but it really, really pisses me off that some $#@! like Frank, one guy, has the power to just ignore bills. What sort of bizarre system is this committee thing?

[Reason]

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