HR 1207 - Audit the Fed

[Bugs]

Ron Paul introduced this bill back in Feb - now looks to be stuck in committee?

H.R. 1207: Federal Reserve Transparency Act of 2009 (GovTrack.us)

H.R. 1207 - Summary: Federal Reserve Transparency Act of 2009 (GovTrack.us)

2/26/2009--Introduced.

Federal Reserve Transparency Act of 2009 - Repeals the authority of the Comptroller General to carry out an onsite examination of an open insured bank or bank holding company only if the appropriate federal regulatory agency has consented in writing. (Retains the authority of the Comptroller General to audit a federal agency.)
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 bill:
GovTrack: H.R. 1207: Text of Legislation, Introduced in House

Some no doubt will say this bill does not go far enough. But the first step in figuring out the future of the FED would be some form of audit wouldn't it?



Will the bill ever make it out of committee?

[barbaro]

Will the bill ever make it out of committee?

Interesting development.

I'd like to see some public awareness brought about on this. I hope there is a buzz about in the coming days. I doubt it will have legs, but making more and more aware is important.

[sabang]

Good luck, but there have been several attempts made in Congress to audit the Fed, they've never got off the ground.

Which leaves me wondering why a private corporation with a share register that is not public, and who's shares are not publicly transferable, is at the very centre of monetary policy and money creation for the US dollar- which is not just the US currency, but also the worlds Reserve currency. But not allowed to be audited.