The bipartisan effort (of the 435 House members, 330 are cosponsors) to bring transparency to the Federal Reserve has hit a speed bump in the person of Rep. Melvin Watt (D-NC). From the Huffington Post:
A bipartisan effort to force transparency on the Federal Reserve is suddenly in jeopardy after a House Financial Services Committee member introduced an amendment that would let the multi-trillion dollar organization continue throwing tax dollars around in secret.
Rep. Mel Watt, a Democrat from North Carolina, has introduced an amendment intended as an alternative to the measure to audit the Federal Reserve introduced by Reps. Ron Paul (R-Texas) and Alan Grayson’s (D-Fla.) . But instead of increasing transparency, as the amendment claims to do, Watt’s measure would instead make the institution more opaque.
The measure could come for a vote anytime this week. Read the amendment here.
Republican, Democrat, it doesn’t matter. Increased transparency is nearly always a good thing, and in the case of the Federal Reserve, it is necessary. Of the 435 House members, 330 are cosponsors of the Audit the Fed amendment from Rep. Ron Paul (R-TX) and Rep. Alan Grayson (D-FL).
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So, 1 s.o.b. can unravel the support of 330? Is it the amendment that comes up for a vote, or the whole bill with the amendment attached?
Ahhhh ya gotta love PuffHo…Alan Grayson is suddenly a “sponsor”….the same late-to-the-dance-loudest-in-the-room horse’s ass who sends out solicitation emails about the legislation that praise his leftist cohorts (like Barnie Frank) but fail eve to so much as reference THE ONLY primary sponsor : Ron Paul, who first introduced the legislation in 1983.
Amazing the shameless way some politicos will sashay up the politically-advantageous path cleared by the blood and sweat of those who have been right all along….and to whom these politicos never give credit.
I am glad to see Ron Paul’s ideas, principles, and solutions being embraced over and over, even (and especially) by those who are still too disingenuous to admit he was right, much less credit him.
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