Ron Paul Urges a Full and Complete Audit of the Federal Reserve

Congressman Ron Paul Paul is pleased to note that 15 out of 31 members of the House Conference Committee – which will reconcile the House and Senate versions of the financial reform bill – are cosponsors of HR 1207, the bill to audit the Federal Reserve Bank.

The House-passed version of the financial reform bill contains the basic language of HR 1207 (in the Paul-Grayson amendment). However, a similar amendment offered by Senator Vitter to the Senate version was rejected by the Senate. Thus, it is essential that conferees consider adding the undiluted language of the Paul-Grayson amendment when reconciling the Senate and House versions of the Financial Reform Bill. Only the full language of the Paul-Grayson amendment will insure a thorough, complete, and ongoing audit of the Fed.

“This Financial Reform bill is set to grant sweeping new powers to the Federal Reserve, which has made a mess of our economy. If my colleagues insist on expanding the power of the Fed, the very least they can do is require the Fed to be transparent rather than secretive in its actions,” stated Congressman Paul. “Luckily, many of the conferees already have demonstrated their concern about transparency by cosponsoring HR 1207, and hopefully those conferees will insist on full transparency in the conference report.”

The House Conferees are: (Democrat/Republican/HR 1207 Co-Sponsor) Representatives Frank, Kanjorski, Waters, Maloney, Gutierrez, Watt, Meeks (NY), Moore (KS), Kilroy, Peters, Peterson, Boswell, Waxman, Rush, Conyers, Berman, Towns, Cummings, Velazquez, Shuler, Bachus, Royce, Biggert, Capito, Hensarling, Garrett, Lucas, Barton, Smith (TX), Issa, and Graves.

Date: 06/09/2010

  • Gary

    The Federal Reserve Isn’t Federal and They Are Paying Banks Not To Lend
    Remember the whole idea of the initial bailout was to free up lending and credit? Well, have you noticed nothing these criminals tell us is true?
    Here checkout the video Rep Dennis Kucinich


  • Ross

    Good to see Ron Paul maintaining his resolve for a full audit of the Fed.The Fed must go , it has too much power and is a parasite on the US economy and its people.

  • Woopa

    Barney Frank did not vote for the the original HR 1207 when it passed the House Financial Services Committe… and this is when HR 1207 was just by itself and not an amendment to a larger bill.

    The vote of the House Conference Committee is not the last step to making this bill law, but it is the next step. Everyone who doesn’t vote for HR 1207 sucks.

    If anyone has more detailed information on the activities and the schedual of this “House Conference Committe”, especially with regards to this bill, I would appriciate some information.

  • fred the protectionist

    “The Soviet Union was not true Communism, so Communism hasn’t really been disproven,” say the Commies.

    “NAFTA isn’t true Free Trade, so free trade hasn’t really been disproven,” say the Libertarians.

    Libertarians are more liberal then the liberals.

    • B.D.Harper

      Sad you haven’t learned yet, that legislators name bills and treaties to appeal to the public regardless of what they pursue. Look at the Patriot Act for example.

      • fred the protectionist

        Yeah well Communism hasn’t REALLY been tried yet, you know, so it could work and be great.

  • Several months ago I might have advised Dr. Paul to wait–even though things weren’t good, things were good enough that the majority of people thought that better times and a brighter future was just around the corner. Now faced with problems that are not just going to disappear and are only getting worse, Dr. Paul might be at the right place at the right time “to go for it.” If he can connect with the right running mate–I believe it’s his for the taking. (He’d better watch his back though.)

    RP IN 2012.

  • fred the protectionist

    I don’t understand. I figured you’d free trader’s would like it the way the Gubmnt delayed economic destruction that should have happened just 2-4 years after NAFTA. It was delayed by borrowing and printing money to offset what was lost to the trade deficit.

    Now that the economic destruction was delayed a good 15 years nobody can say, “Behold it was free trade who did this, cause and effect.” You guys are off scot-free from any blame, why wouldn’t you like that?

    • Why don’t you look @ your senator John McCain. He’s the real free trader and what that makes you? You’re the real free trader.

  • fred the protectionist

    “This Financial Reform bill is set to grant sweeping new powers to the Federal Reserve…”

    What sweeping new powers to the Federal Reserve?

    • Citizen

      Entrenched Politicians handing
      Sweeping new Crony “Protections” for their Fat Cat Wall Street Bankers who fund their perpetual re-elections in gerrymandered districts ala Mass. 4th Dist to PROTECT
      Banking Queen Barney Frank for a Lifetime congressional seat!!!

      NO REGULATIONS on the two BIG GOVERNMENT sponsored enterprise PROBLEMS!


      Government IS THE PROBLEM…. not the Solution

      • fred the protectionist

        “Crony “Protections” for their Fat Cat Wall Street Bankers who fund their perpetual re-elections in gerrymandered districts ala Mass. 4th Dist to PROTECT”

        *slow clap*

        Congradulations, you just used 5 political buzzwords in one sentence:

        1) Crony
        2) Fat Cat
        3) Wall STreet
        4) Bankers
        5) Gerrymander

        Everyone give’em a hand, you really know how to mix them up.

        • Woopa

          You should be funny more often Fred, I don’t know what Obama’s paying you but I’m sure we could match it.

  • truefictions

    Go Ron!

  • Cstrife234

    “I have no ambition to govern men; it is a painful and thankless office.”
    Thomas Jefferson

    That’s what Mr. Paul is about. He’s no ruler. He just wants to make sure that our rights are upheld and that we aren’t in the scheme of perverted bureaucrats and corporatists.