Posted on 08/30/2009 10:10:04 PM PDT by GoldStandard
Rep. Barney Frank endorses measure to audit the Federal Reserve that has won hundreds of co-sponsors on both sides of the aisle since it was introduced in late February by Rep. Ron Paul.
Rep. Barney Frank, the chairman of the House Financial Services Committee, has endorsed a bill calling for an audit of the Federal Reserve.
The support from the powerful Massachusetts Democrat comes after the measure, introduced in late February by Rep. Ron Paul, has won hundreds of co-sponsors on both sides of the aisle.
Frank's office had previously declined to comment on the bill, which had been idling in his committee for months, but the congressman publicly backed it when pressed on the issue at a recent town hall meeting held during Congress' month-long summer recess.
"We will subject them to a complete audit," Frank said, explaining that he has been working with Paul, a Texas Republican, on the bill and expects it to pass as part of a broader financial regulatory overhaul in October.
Frank said he and Paul are working to make sure the audit does not appear as if it would influence policy.
"We don't want to have the audit appear as if it is influencing monetary policy, because that would be inflationary," Frank said.
(Excerpt) Read more at foxnews.com ...
The bad news is that the audit will be carried out by a joint mission of ACORN, SEIU, Open Society Institute and Goldman Sachs
As the saying goes about a broken clock......
Must be a Bush investigation in disguise.
Ron Paul, the fed won’t be audited by the free market. It will be ‘audited’ by a bunch of rent seeking politicians. oh well, you have been warned...
Don’t bet on it. You can count on Bawney pairing the audit with something dastardly that Republicans cannot live with. When Republicans don’t support the bill, he will bluster about Republicans trying to keep their complicity in the financial mess a secret.
Is Freddie and Fannie on Bwarney’s TO DO list also?
Now Goldman Sachs will be forced to dive into their auditor bribing slush fund. Oh the difiiculties they face....
Why doesn’t the president appoint a hazardous waste response team to audit his ass; I’m sure the names exposed would sink the Dems.
Well, hell, he already facilitated their demise once damnit!
maybe this is ron paul’s secret plan: have congress control federal reserve so that the $ becomes a complete joke and everyone will want to replace it with gold.
Yup, facilitated and not investigated. My point.
http://www.ronpaul.com/2009-08-28/barney-frank-didnt-say-that-hr-1207-will-pass-in-october/
http://www.economicpolicyjournal.com/2009/08/on-ron-pauls-ahem-audit-fed-supporters.html
The first link is inaccurate. Frank did say it and Paul himself says he has a personal promise from Frank to let HR-1207 have a vote in committee.
Have you read it in it’s entirety? If so you will see it is indeed true.
How about an audit of Fannie Mae and Freddie Mac and you, Barney?
What a farce.
Don’t ask the Fed to be audited by politicans.
Just end it.
If you want to know who your master is, look no further than the Federal Reserve.
Every day you wake up, every minute that you are alive, you are in debt to and working for the Fed.
But there is nothing ‘Federal’ about the Fed and there are indeed no reserves.
Think hamster wheel and eternal payment plans to international bankers for money you never saw.
It’s the biggest ponzy scheme in human history.
“None are more hopelessly enslaved than those who falsely believe they are free.” - Johann Wolfgang Goethe
“I believe that banking institutions are more dangerous than standing armies. If the American people ever allow private banks to control the issue of currency...the banks and corporations that will grow up around them will deprive the people of their property until their children wake up homeless on the continent their fathers conquered.” - Thomas Jefferson
“If you want to remain slaves of the bankers and pay for the costs of your own slavery, let them continue to create money and control the nation’s credit.” - Sir Josiah Stamp
Several points:
1) There will be no real investigation. It is a sham.
2) The real crimes were done by Frank and his cronies at Freddie Mac and Fannie Mae.
3) Frank belongs in jail for many, many reasons.
An audit of the Fed could very well be the thing that finally brings the whole system down.
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