Posted on 11/02/2009 8:38:20 AM PST by rabscuttle385
With most Americans outraged over the behavior of the Federal Reserve and the part it has played in the bailouts of huge institutions in the financial and automotive industries, Ron Paul introduced H.R. 1207, which would have required a full audit of the Federal Reserve and its activities, which crosses international lines.
According to Rep. Ron Paul, R-Texas, the House Financial Service Committee’s panel on domestic monetary policy, Rep. Mel Watt, D-N.C., essentially stripped the bill of just about everything that would have required transparency, and pretty much is now worthless as to its original purpose of letting the American people and Congress see what their secretive dealings have entailed.
After Watt got hold of the bill, it no longer includes the communications reports between the reserve banks and its various workers, and also the Board. What was especially wanted to be seen was what types of deals were made with foreign central banks and how recent bailout money was spent and what banks received it and how much. Paul asserts those loopholes, which had been closed in the original language of the bill, are now reopened.
Citing a telephone interview with Paul, Bloomberg reported Paul said about the revised bill: “There’s nothing left; it’s been gutted. This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”
Especially troubling about the gutting of the bill is the connections the Democrat Watt has with the banking industry. Bank of America (NYSE:BAC) has its headquarters in his congressional district, which is based in Charlotte, but worse, the majority of contributions to Watt’s campaign has come from corporations in the real estate, finance and insurance industry.
Watt’s largest contributors included American Express (NYSE: AXP), Wachovia, Bank of America and the American Bankers Association. Altogether the financial industry donated over $217,109 to Watt, which was over 35 percent of the overall contributions he received.
Paul’s bill had widespread support, with over 300 co-sponsors in the house. Per Bloomberg, Paul says he plans on introducing an amendment to the bill which would bring it back to the original language it included at the time it comes to the floor of the House to be voted on.
feckless Paul swings good but misses... yet again.
Too bad he spent 10 times more time over the years tearing down his GOP counterparts rather than battling the enemey.
Ping
The enemy is anyone and everyone who does not uphold his or her oath (or affirmation) to uphold and defend the constitution for the United states.
Democrat or republican, it doesn't matter. Republicrats all.
My father (a staunch democrat) and I (a strict constitutionalist) used to argue all the time over his voting only the party line. He (99% of the time) never even knew what the hell he was voting for. He'd say to me "I don't care, I vote straight democrat no matter what." I've heard and seen a lot of republicans do the same and to me that's extremely ignorant.
Voting strictly party politics is a vote of the ignorant. There are infiltrators within both party's. Repub's and demo's voting on a bill w/o first reading it in its entirety.
Ask yourself, Am I a constitutionalist, yes or no? To find out go to:
Ask your representative or check out your representative and see if she or he violated any of the requirements listed at that site.
If a party that claims to be a staunch defender of the constitution compromises those principles, then how can that party point the finger at the supposed enemy when one is doing the same as the enemy.
""We have met the enemy and he is us"."
Also check:
Feckless, it is you and all else who vote strictly party line that is feckless.
First, do you een know what ‘feckless’ means?
Second:
“Ask yourself, Am I a constitutionalist, yes or no? To find out go to:
Constitutionalist Platform
Ask your representative or check out your representative and see if she or he violated any of the requirements listed at that site.”
Strange, I would have just sent someone to read the constitution. What is it about this website that makes a better barometer of constitutional fidelity than The Constitution itself?
And no I am not that naive to realize how much power one highly-influential boss (of either party) can wield, but there is something definitely askew when one person can override the will of 300 fellow congress critters and singularly thwart the process.
So....write another bill. And another. And another! Scream bloddy murder and get it all over the internet and Fox news. Build momentum, call into question the loyalty of the opponents...Until it gets through!
DO NOT GIVE UP!
Many here on FR are afraid a dismantling of the Fed would result, somehow, in a relinquishment of free market practices.
IMO, if this investigation of the Fed were to proceed, many would be shocked to see how unfair and manipulated the market actually is.
Of course we knew this would happen- just the natural progression of control freak politics in DC. Now that they’ve attempted to gut one of the most popular pieces of legislation that’s come along in years, there’s no hiding the dirty agenda of the banksters.
Main Entry: feckless
Part of Speech: adjective
Definition: without purpose
Synonyms:
Yeah I know what it means. By calling Ron Paul "feckless" your basically calling him a worthless stupid piece of sh*t. You couldn't be more wrong.
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