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

Poor sound mars Eminem's first performance at Wembley Staium in London. Many people want their money back, but will probably not get it.
The Fed's Janet Yellen released a report last week, illustrating her concerns over the substantially stretched valuations on smaller social media, biotechnology firms.
Public Citizen Ralph Nader is honored for his contributions to the advancement of fair-minded critical societies, Critical Thinking and Educational Reform.
Without an Iran-friendly PM in Iraq, Iran will have difficulty in Iraq. ISIS helps control the Sunni problem. The international community needs to break this wicked weave.
Kilimanjaro Capital (OTC PINK:KIMJF) says it plans to expand its area of operation in Canada, adding to plans announced last month.
The film Living Dot Com Premiered in Hollywood recently, about the new wave of internet millionaires, and the movie and party still has Hollywood talking.

 

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