Update on H.R. 1207 “Audit the Federal Reserve”

Dr. Paul introduced H.R. 1207, the Federal Reserve Transparency Act of 2009, on the House floor in February. In waiting in the House Committee on Financial  Services, our bill has accumulated 111 cosponsors, 26% of voting members! The co-sponsors include Rep. Tom McClintock (CA-4) and Rep. Dan Lungren (CA-3), but not Rep. Doris Matsui (CA-5). Why would a member of Congress not be in favour of making assessable the audits done by the Government Accountability Office of the Board of Governors? I want to make clear that since the passage of the Federal Banking Agency Audit Act of 1978, the Federal Reserve Banks and the Board of Governors of the Federal Reserve System has been audited by the Government and Accountability Office under the Controller General and by multiple private accounting firms; however these performance audits have historically been presented solely to the Board of Governors themselves, and not to Congress. This is hardly consistent with the American principle of checks and balances. It makes me wonder what Matsui has to hide, or rather what she wants to be ignorant of.

Perhaps you could ask her for me? If you are a constituent of Rep. Doris Matsui (CA-5), then could you call her district office at (916) 498-5600, or visit her at the Robert T. Matsui United States Courthouse, 501 I Street, Suite 12-600, Sacramento, CA? It only takes five minutes to call your representatives office and share with them what I shared with you. If your representative is not in, share your concerns with a staff member. Remember: sunshine is the best disinfectant.

Hope to see you all at our 7:00pm Sacramento Campaign for Liberty general meeting on May 12 at Round Table Pizza, 3327 Watt Ave, Sacramento, CA 95821. You can see our calender on our Meetup group. Hope to see you there!