Audit the FED Amendment Passes

Rep. Alan Grayson on the Paul/Grayson Amendment

Rep. Alan Grayson argues in support of the Paul/Grayson amendment, which would subject the Federal Reserve to a complete audit.

Ron Paul argued:

"This is the bill that would allow the American people to win."

"Who's benefiting and where are the trillions of dollars going?"

"We live in an age where the American people are sick and tired of secret government and government out of control, and Congress passing TARP funds...and now that the people have found out that this is going on at the Federal Reserve, they're demanding to know details!"

The amendment passed the House Financial Services Committee 43-26 as part of the underlying financial reform package.

The committee is now poised to pass the entire bill (H.R. 3996) and has scheduled its final vote on the legislation for December 1.

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Courtesy of The Market Ticker (who writes a great piece on this - you should read it), here's a handy list of nays to send pink slips to: [PDF]

NAY - Rep. Barney Frank, MA
NAY - Rep. Paul E. Kanjorski, PA
NAY - Rep. Maxine Waters, CA
NAY - Rep. Carolyn B. Maloney, NY
NAY - Rep. Luis V. Gutierrez, IL
NAY - Rep. Nydia M. Velázquez, NY
NAY - Rep. Melvin L. Watt, NC
NAY - Rep. Gary L. Ackerman, NY
NAY - Rep. Gregory W. Meeks, NY
NAY - Rep. Dennis Moore, KS
NAY - Rep. Michael E. Capuano, MA
NAY - Rep. Carolyn McCarthy, NY
NAY - Rep. Joe Baca, CA
NAY - Rep. Stephen F. Lynch, MA
NAY - Rep. Brad Miller, NC
NAY - Rep. Al Green, TX
NAY - Rep. Emanuel Cleaver, MO
NAY - Rep. Melissa L. Bean, IL
NAY - Rep. Gwen Moore, WI
NAY - Rep. Keith Ellison, MN
NAY - Rep. Ron Klein, FL
NAY - Rep. Charles Wilson, OH
NAY - Rep. Joe Donnelly, IN
NAY - Rep. Bill Foster, IL
NAY - Rep. Andre Carson, IN
NAY - Rep. Mary Jo Kilroy, OH
NAY - Rep. Jim Himes, CT

Why don't you give 'em a call and tell 'em what you think of 'em?

I'm sure they'd love to hear from you - you can find their phone and fax numbers at http://www.house.gov.

Add to the traitorous bunch above Former Federal Reserve chairman Alan Greenspan and Paul Volcker who wrote the House Financial Services Committee early this month that they opposed the provision, backed by Paul and Grayson. Read the letter from Greenspan and Volcker.

“We can assure you that this protection of internal deliberations in reaching decisions that will affect market conditions and could expose sensitive information about particular institutions is indispensible in the Federal Reserve’s conduct of monetary policy,” Greenspan and Volcker said. -- WSJ

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Click chart to enlarge.

Prepare yourselves for one hell of a stock market crash when this financial reform package passes and the FED is forced to unwind its illegal positions. [<-- View FED balance sheet here.]

Related: FED Controls Stock Market: Sell! Sell!