Ron Paul's attempt to Audit The Fed Fails

[bobbyw24]

A motion to add a provision that would "audit the Fed" to the financial overhaul bill failed Thursday.

U.S. Rep. Ron Paul sponsored the audit the Fed bill previously supported by 320 members of the House. But the audit add-on failed by a vote of 229-198.

"It is foolish to grant more powers to the institutions that caused all the moral hazard and malinvestments that got us into this mess," Paul said on his website. "It is doubly foolish to do so without any meaningful accountability or transparency."

The amendment would give the Government Accountability Office authority to audit the Federal Reserve, which has a long history of independence from congressional audits.

http://www.victoriaadvocate.com/news...ews&local-news

[stu2002]

and keep fighting.

OUR TIME WILL COME

[awake]

Write the bill again and wait for the anger to rise. Galloping inflation ought to give it some more lift.

[stu2002]

Write the bill again and wait for the anger to rise. Galloping inflation ought to give it some more lift.

Exactly

[Matt Collins]

We raised awareness about the Fed. That's a good thing.

[Aratus]

without a much sterner insistance that THE FED be LEGALLY auditted from 10 to 100 times in a given year...
why expect that the reforms will take hold without a pervasive graft and/or payola ruling all and then some?

[constituent]

i thought audit the fed was the big win? I haven't really been following...

You know what might be realistic? It seems like, IIRC, when people default on student loans, they forfeit all future government benefits (or something like that). If it's the case that those individuals still have to pay into the system, perhaps inserting some little clause that will exempt them from requirements to pay into benefits programs that they won't receive money back from would be something people could get behind.

Call it student debt relief or something.

[constituent]

Write the bill again and wait for the anger to rise. Galloping inflation ought to give it some more lift.

wait for it...


wait for it.....



waiiiiiiiiiiit for iiiiiiiiiiiit.........