Many on the left believe that the Democratic Party is the “Money Party,” and they are probably correct. So it should come as no surprise that Jane Hamsher of Firedoglake and others are taking notice and getting behind Democratic Representative (FL) Alan Grayson’s support of Ron Paul’sFederal Reserve Transparency Act.
Since 2008, the Federal Reserve has loaned trillions of dollars in bailout money but refuses to tell Congress where it went. Legislative action is needed.
The Federal Reserve Transparency Act would give the GAO the authority to audit the Federal Reserve and report its findings to Congress. The bill was written by Rep. Ron Paul and has 165 cosponsors, mostly Republicans. Avowed fellow traveler, Bernie Sanders is sponsoring the bill in the Senate.
Congressman Alan Grayson is now working to get Democratic cosponsors for this bill (see Grayson’s letter).
Halfway To Concord Contributor, Walter Stanley, vice chair of the Alameda Republican Party, has been waving this flag for some time.
Reps Ellen Tauscher George Miller, and Jerry McNerney have as yet not signed on. We wonder why? Maybe it’s because Tauscher is a solid back bencher for the Money Wing of the Democratic Party; George is first in line for handouts so why close down the whore house; while Jerry is spinning windmills. The Diablo Dems should get behind this issue and put a fire under their local heroes.
{ 6 comments… read them below or add one }
HR 1207 has over 40% of the House of Representatives signed on as cosponsors! (191-total)
Walter, if anything, Tauscher has always been more concerned for the Mortgage Bankers Association than with taxpayers and their mortgages. She went out of her way to make the Bankruptcy Cramdown a sweeter deal for banks, screw the public.
And Miller? He talks the talk but doesn’t walk the walk when it comes to Fed Transparency and full disclosure. In fact, he clearly lied when he boasted he was an author of HR 1207.
Frighteningly both Tauscher and Miller have endorsed DeSaulnier. So has CoCo labor.
Hmmm. I guess labor is siding with the Big Money lobby that currently owns and operates the Democratic Party, afterall. Shame.
With those kind of connections it’s hard to think of a scenario where DeSaulnier hasn’t already been introduced to Big Money contributors to ease his way into the beltway lifestyle. We’ll probably get more of the same with the bar keep as long as the banking interests pay his tab.
Somebody should look into DeSaulnier’s campaign records and report on the banking money piling up in his safe deposit vault.
To the members of Congress, please demonstrate public support for Rep. Grayson and his efforts to bring accountability and transparency to the Federal Reserve, a full Audit of the Fed. There is an appearance of mass corruptions and a gross subversion of the Constitution in Washington D.C. today. I am a firm believer in the Peoples Grand Juries and will push to have them installed if our elected and appointed leaders continue as they have been doing.
I am also concerned about President Obama’s eligibility to be Commander and Chief of our Military according to our Constitution (Law of Nations). Having all of his records hidden does little to show me that his Administration believes in Transparency. We the people and our Military need to know if he is legally our President and so do YOU.
Dear Bill,
Thank you for showing your support for Rep. Alan Grayson and his effort to find cosponsors for the Federal Reserve Transparency Act.
Since he circulated a letter to his colleagues last week, fifteen more members of Congress have signed on to the bill, which now has 181 bipartisan cosponsors:
Rep Pastor, Ed [AZ-4]
Rep Brown-Waite, Ginny [FL-5]
Rep Altmire, Jason [PA-4]
Rep Latta, Robert E. [OH-5]
Rep Reichert, David G. [WA-8]
Rep Rogers, Mike J. [MI-8]
Rep Berry, Marion [AR-1]
Rep Schauer, Mark H. [MI-7]
Rep Scalise, Steve [LA-1]
Rep Forbes, J. Randy [VA-4]
Rep Ross, Mike [AR-4]
Rep Berkley, Shelley [NV-1]
Rep Welch, Peter [VT]
Rep Thornberry, Mac [TX-13]
Rep Grijalva, Raul [AZ-07]
This support comes at a critical time, when there are efforts underway to give the Federal Reserve even more unchecked authority. Thank you for adding your name to the list that already includes Dean Baker, James K. Galbraith, Naomi Klein, William Greider, Thomas Ferguson, William K. Black, Robert Borosage, James I. Sturgeon, Barbara Ehrenreich and over 4700 others.
Your support will be circulated to members of Congress to demonstrate public support for Rep. Grayson and his efforts to bring accountability and transparency to the Federal Reserve.
Please ask your readers to add their names to the petition at:
http://action.firedoglake.com/page/s/Fed1207
Tyler Durden, Zero Hedge Jane Hamsher, Firedoglake
For More Information:
1. Letter from Rep. Alan Grayson to his colleagues — May 21, 2009: http://action.firedoglake.com/page/content/graysonletter/
2. U.S. Taxpayers Risk $9.7 Trillion on Bailout Programs — Bloomberg, February 9, 2009: http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok
Great job, Ted, thanks!
179 cosponsors as of May 25, 2009. I presented information on HR 1207 at both the April & May CCRP meetings.