You Decide

Always decide for yourself whether anything posted in my blog has any information you choose to keep.

Wednesday, May 5, 2010

 

"Here's What The Fed Is Doing To Kill The Audit, And Here's How You Can Stand Up To Them

Found this linked on The Market Ticker. 

"AUDIT THE FED: YOUR HELP NEEDED NOW

http://market-ticker.org/archives/2275-AUDIT-THE-FED-YOUR-HELP-NEEDED-NOW.html
______________

"Here's What The Fed Is Doing To Kill The Audit, And Here's How You Can Stand Up To Them

Mike "Mish" Shedlock | May. 4, 2010, 3:49 PM | 3,023 |

Source Business Insider

"A bill sponsored by Ron Paul and Alan Grayson to thoroughly audit the Fed, passed the House. However in a brazen move that ought to offend the sensibilities of every citizen, the Fed is lobbying Senate members to water down the bill so that it is meaningless.

The Huffington Post tells the story in Fed Privately Lobbying Against Audit.

The Federal Reserve is privately lobbying against a bipartisan Senate amendment that would open the central bank to an audit by the Government Accountability Office, according to documents distributed to Senate offices by a Fed official.

In order to obtain the documents, HuffPost agreed not to reveal the name of the Federal Reserve official who did the specific lobbying in question.

"As I mentioned, we believe that the bipartisan Corker-Merkley provision in the Dodd Bill is quite strong and addresses issues of transparency and disclosure without impinging on the independence of monetary policy," the official goes on.

Merkley teamed with Sen. Bob Corker (R-Tenn.) on an audit provision, but Merkley himself says he'd prefer to go further. "I appreciate Representative [Alan] Grayson's concerns over accountability at the Federal Reserve. I have been a strong proponent of Fed reform and voted against the re-confirmation of Ben Bernanke because the Fed has been so lax in using its regulatory powers," Merkley said in a statement to HuffPost, responding to an analysis from Rep. Alan Grayson (D-Fla.) showing that the Senate bill did not meaningfully expand transparency.

Dodd Bill Would Allow Fed To Hide Its Spending

Inquiring minds are reading Dodd Bill Would Allow Fed To Hide Its Spending.

The Wall Street reform bill headed for a test vote on the Senate floor Monday night will allow the Federal Reserve to continue to pump trillions of dollars into major banks largely in secrecy, the co-author of House language that would open the central bank to an audit charged in a memo to the Senate.

"The Senate has a provision in its reform bill that purports to audit the Fed. But, it really doesn't do anything of the sort. I'm going to run down the details for you, and reprint the legislative language so you can read it yourself," writes Rep. Alan Grayson (D-Fla.).

It would not allow the GAO to look into the Fed's massive purchase of toxic assets, its hundreds of billions in foreign currency swaps with other central banks or its open market operations, among other restrictions.

Grayson and co-author Rep. Ron Paul (R-Texas) passed legislation through the House that would allow the Government Accountability Office (GAO) to audit the Federal Reserve and, after a delay, release the information to Congress. It was a remarkable victory, with a populist coalition beating back the combined lobbying efforts of the Treasury Department, the Fed and Wall Street banks. ....

What You Can Do

All you need to know is that if the Fed is for the Dodd bill or the Corker-Merkley provision, then you do not want either.

Please phone and fax your senators and tell them you want the Fed audited fully, and you do NOT want the watered down Dodd bill or the or the Corker-Merkley provision.

Tell them you do support the Grayson/Ron Paul bill exactly as passed by the house.

Here is a directory sorted by state of all the Senators of the 111th Congress.

You can also look up the phone numbers in the Online Directory For The 111th Congress but the first link may be easier to use for just senators. 

Send A Message

Call, Email, and Fax Now!"

http://www.businessinsider.com/fed-privately-lobbies-senate-to-kill-audit-2010-5#ixzz0n1cisTpV


Comments: Post a Comment

<< Home

Archives

March 2024   February 2024   January 2024   December 2023   November 2023   October 2023   September 2023   August 2023   July 2023   June 2023   May 2023   April 2023   March 2023   February 2023   January 2023   December 2022   November 2022   October 2022   September 2022   August 2022   July 2022   June 2022   May 2022   April 2022   March 2022   February 2022   January 2022   December 2021   November 2021   October 2021   September 2021   August 2021   July 2021   June 2021   May 2021   April 2021   March 2021   February 2021   January 2021   December 2020   November 2020   October 2020   September 2020   August 2020   July 2020   June 2020   May 2020   April 2020   March 2020   February 2020   January 2020   December 2019   November 2019   October 2019   September 2019   August 2019   July 2019   June 2019   May 2019   April 2019   March 2019   February 2019   January 2019   December 2018   November 2018   October 2018   September 2018   August 2018   July 2018   June 2018   May 2018   April 2018   March 2018   February 2018   January 2018   December 2017   November 2017   October 2017   September 2017   August 2017   July 2017   June 2017   May 2017   April 2017   March 2017   February 2017   January 2017   December 2016   November 2016   January 2013   October 2011   September 2011   August 2011   July 2011   June 2011   May 2011   March 2011   January 2011   December 2010   October 2010   September 2010   August 2010   July 2010   June 2010   May 2010   April 2010   March 2010   February 2010   January 2010   December 2009   November 2009   October 2009   September 2009   August 2009   July 2009   June 2009   May 2009   April 2009   March 2009   February 2009   January 2009   December 2008   November 2008   October 2008   September 2008   August 2008   July 2008   June 2008   May 2008   April 2008   March 2008   February 2008   January 2008   December 2007   November 2007   October 2007   April 2007   March 2007   February 2007   January 2007   December 2006   November 2006   October 2006   September 2006   August 2006   July 2006   June 2006   May 2006   April 2006   March 2006   February 2006   January 2006   December 2005   November 2005   October 2005   September 2005   August 2005   July 2005   June 2005   March 2005   November 2004   October 2004  

Powered by Lottery PostSyndicated RSS FeedSubscribe