Daily News header

Ron Paul Seeks Audit of Federal Reserve

By  

H.R. 1207: Federal Reserve Transparency Act of 2009 was introduced on February 26 and now has 109 cosponsors.

In brief, HR1207: "Directs the Comptroller General to complete, before the end of 2010, an audit of the Board of Governors of the Federal Reserve System and of the federal reserve banks, followed by a detailed report to Congress."

Full text:

Congressman Paul entered this bill after the head of the Federal Reserve recently told a congressional hearing that they would NOT account for how $2 Trillion in loans were allocated.

The introductionof HR1207 followed a petition campaign:

Currently the bill is in the House Committee on Financial Services.

Senate bill 604 Federal Reserve Sunshine Act of 2009, introduced March 16 by Sen. Bernard Sanders [I-VT] is similar and would amend title 31, United States Code (U.S.C.), to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.

John McCormick is a reporter, /science/medical columnist and finance and social commentator, with 17,000+ bylined stories. Contact John through NewsBlaze.

  Please leave a comment here     If it does not display within 10 seconds, please refresh the page

Related Top Stories News

The WHO has confirmed that two people traveled from Guiena by public transportation to Kayes, a city in western Mali on the Senegal River.
Every week we hear updates on the number of infected and dead caused by Ebola but individual numbers aren't the whole story. The WHO projects millions of cases in Africa by next year!
A new Ebola case in the U.S. is reportedly linked to a Doctors Without Border medic who self-reported very early symptoms and was immediately placed in isolation at Bellevue Hospital in New York City.
A second storm will roll in Friday night into Saturday. The storm this weekend could bring locally strong wind gusts on the coast.
Hard Money Lenders make all kinds of loans, particularly high on the list are property loans, commercial business loans , loans to investors seeking to purchase and flip houses and businesses, with sufficient equity.
New issue of The Hollywood Sentinel features a tribute to Robin Williams, Joan Rivers, Lauren Bacall, coverage of the Moira Cue Art Show at Bruce Lurie Gallery, Andy Warhol's Shadows show at MOCA, How to Succeed in Hollywood

 

NewsBlaze Writers Of The Month



Popular Stories This Month

newsletter logo

NewsBlaze
Copyright © 2004-2014 NewsBlaze Pty. Ltd.
Use of this website is subject to our Terms of Service and Privacy Policy  | DMCA Notice               Press Room   |    Visit NewsBlaze Mobile Site