1 vote

The Paul Amendment passed! 43-26! Thanks to everyone who made those calls!!! Round Two, December 1st.

Video and How they voted included (Yay or Nay FOR Congressman Paul's bill

Ron Paul introducing the Paul-Grayson amendment:
http://www.youtube.com/wa...

Alan Grayson and Mel Watt discuss the two amendments:
http://www.youtube.com/wa...

How they voted (HR 1207 co-sponsors in bold):

AL-06 Rep. Spencer Bachus yay
CA-12 Rep. Jackie Speier yay
CA-22 Rep. Kevin McCarthy yay
CA-27 Rep. Brad Sherman yay
CA-35 Rep. Maxine Waters nay
CA-40 Rep. Edward R. Royce yay
CA-42 Rep. Gary G. Miller nay
CA-43 Rep. Joe Baca nay
CA-48 Rep. John Campbell yay
CO-07 Rep. Ed Perlmutter yay
CT-04 Rep. Jim Himes nay
DE-01 Rep. Michael N. Castle yay
FL-08 Rep. Alan Grayson yay
FL-12 Rep. Adam Putnam yay
FL-15 Rep. Bill Posey yay
FL-22 Rep. Ron Klein nay
FL-24 Rep. Suzanne Kosmas
GA-06 Rep. Tom Price yay
GA-13 Rep. David Scott yay
ID-01 Rep. Walt Minnick yay
IL-04 Rep. Luis V. Gutierrez nay
IL-08 Rep. Melissa L. Bean nay
IL-13 Rep. Judy Biggert yay
IL-14 Rep. Bill Foster nay
IL-16 Rep. Donald A. Manzullo yay
IN-02 Rep. Joe Donnelly nay
IN-07 Rep. Andre Carson nay
KS-02 Rep. Lynn Jenkins yay
KS-03 Rep. Dennis Moore nay
MA-04 Rep. Barney Frank nay
MA-08 Rep. Michael E. Capuano nay
MA-09 Rep. Stephen F. Lynch nay
MI-09 Rep. Gary Peters yay
MI-11 Rep. Thaddeus McCotter yay
MN-03 Rep. Erik Paulsen yay
MN-05 Rep. Keith Ellison nay
MN-06 Rep. Michele Bachmann yay
MO-01 Rep. William Lacy Clay yay
MO-05 Rep. Emanuel Cleaver nay
MS-01 Rep. Travis Childers yay
NC-03 Rep. Walter B. Jones yay
NC-10 Rep. Patrick T. McHenry yay
NC-12 Rep. Melvin L. Watt nay
NC-13 Rep. Brad Miller
nay
NH-02 Rep. Paul W. Hodes yay
NJ-03 Rep. John Adler yay
NJ-05 Rep. Scott Garrett yay
NJ-07 Rep. Leonard Lance yay
NY-03 Rep. Peter King yay
NY-04 Rep. Carolyn McCarthy yay
NY-05 Rep. Gary L. Ackerman nay
NY-06 Rep. Gregory W. Meeks nay
NY-12 Rep. Nydia M. Velázquez yay
NY-14 Rep. Carolyn B. Maloney nay
NY-25 Rep. Dan Maffei yay
NY-26 Rep. Christopher Lee yay
OH-01 Rep. Steve Driehaus yay
OH-06 Rep. Charles Wilson nay
OH-15 Rep. Mary Jo Kilroy nay
OK-03 Rep. Frank D. Lucas yay
PA-06 Rep. Jim Gerlach yay
PA-11 Rep. Paul E. Kanjorski
SC-03 Rep. J. Gresham Barrett yay
TX-05 Rep. Jeb Hensarling yay
TX-09 Rep. Al Green nay
TX-14 Rep. Ron Paul yay
TX-15 Rep. Rubén Hinojosa yay
TX-19 Rep. Randy Neugebauer yay
TX-24 Rep. Kenny Marchant yay
WI-04 Rep. Gwen Moore nay
WV-02 Rep. Shelley Moore Capito nay

Later this afternoon, the House Financial Services Committee will be voting on the Paul-Grayson amendment (which is essentially the “Audit the Fed” bill HR 1207 in the form of an amendment), and the opposing Watt amendment to audit the Fed.

Over the course of today’s hearing, Chairman Barney Frank unsurprisingly came out in support of the opposing Watt amendment, arguing that perception is important and that the Paul-Grayson amendment would increase inflationary pressure on the dollar.

Earlier today, Ron Paul and Alan Grayson sent the following letter to members of the Committee:

Dear Financial Services Committee Colleague:

It is encouraging to see the issue of Federal Reserve transparency receiving so much attention during this current markup. Today we plan to offer an amendment to the Financial Stability Improvement Act that expands on the many extant proposals to enhance Federal Reserve transparency. Our amendment is based on HR 1207, the Federal Reserve Transparency Act, which has broad bipartisan and grassroots support. The bill is cosponsored by 309 Members of Congress, including all Financial Services Committee Republicans and 13 Financial Services Committee Democrats.

The amendment removes restrictions on GAO audits of the Federal Reserve, as HR 1207 does, but makes a few changes to take into account some of the concerns that the Fed has made known in public testimony. Specifically, the Paul/Grayson amendment:

* Exempts unreleased transcripts and minutes from meetings of the Board and FOMC to address the Fed’s concerns that free and open debate in their meetings would be stifled.
* Sets a 180-day time lag for release of details of market actions the Fed has undertaken, to address the Fed’s concerns that Congress or GAO is second-guessing its actions.
* Removes boilerplate language that allowed GAO to make recommendations on monetary policy and adds a section stating that nothing in the amendment shall be construed as interference in or dictation of monetary policy to the Fed.

Unlike proposals that target the Fed’s 13(3) facilities, the Paul/Grayson amendment opens up the entire $2 trillion Federal Reserve balance sheet to a GAO audit. The Fed’s recent purchases of nearly $800 billion in mortgage-backed securities (MBS) have occurred under the MBS Purchase Program, authorized under section 14(b) of the Federal Reserve Act. This program, which is expected to reach a size of $1.25 trillion, would remain exempt from audit even if all the current 13(3) audit proposals were to go into effect. Targeting facilities that are in the process of being drawn down and that are authorized under a specific subsection of the Federal Reserve while allowing other facilities to spring up in their place is counterproductive to true transparency. All purchases and loans that appear on the balance sheet should be subject to audit, without loopholes for the Fed to evade scrutiny.

More importantly, the Paul/Grayson amendment does not create any additional burdens. Some competing proposals, while making a good effort at expanding the number of 13(3) facilities open to audit, take a step backwards by imposing new restrictions on GAO that are more burdensome than the restrictions currently written into law. We cannot accept these new restrictions. Unlike competing proposals, this amendment amends existing restrictions on GAO audit authority, a necessary precondition for a complete audit. Competing proposals leave these restrictions in place, and even add new ones.

We also reject the false dichotomy between transparency and independence. The Paul/Grayson amendment would achieve the necessary transparency of the trillions of dollars of Fed interventions while keeping Congress from directly intervening in the decision-making process. Independence should not be synonymous with secrecy. We urge our colleagues to support the Paul/Grayson amendment.

Sincerely,

Ron Paul, Member of Congress
Alan Grayson, Member of Congress

FROM RONPAUL.COM

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hr 1207..noble cause..will never

see the light of day as stand alone audit..senate willtrash the entire gig....sad but true...................................!!!!!!!!!!!!!!!!!!!!!

call the senators that are opposed and continue the grassroot

well then let us act together

oliver robert ike

VOTE THEM OUT OF OFFICE

Market-Ticker Story: "It's about damn time."
On November 20th, 2009 SteveMT says:

Paul/Grayson Amendment Passes In Committee
Friday, November 20. 2009
Posted by Karl Denninger in Corruption at 08:17
Short version:

It's about damn time.

Yes, it's a first step - but an important first step, and it happened yesterday. Here's what Representative Grayson said at the time of debate:

Bloomberg wasted no time giving the "loyal opposition" to transparency all the digital ink they desired:

“It’s going to be seen as weakening the independence of monetary policy with consequent negative implications,” Frank told reporters after the vote. “People are going to be worried about the impact on the dollar, on the interest rate.”

Each and every one of the Representatives listed below, by voting "NAY" today, has violated his or her oath of office, has committed an act of violence against The Constitution of The United States, is unfit for their office, and must resign:

NAY - Rep. Barney Frank, MA
NAY - Rep. Paul E. Kanjorski, PA
NAY - Rep. Maxine Waters, CA
NAY - Rep. Carolyn B. Maloney, NY
NAY - Rep. Luis V. Gutierrez, IL
NAY - Rep. Nydia M. Velázquez, NY
NAY - Rep. Melvin L. Watt, NC
NAY - Rep. Gary L. Ackerman, NY
NAY - Rep. Gregory W. Meeks, NY
NAY - Rep. Dennis Moore, KS
NAY - Rep. Michael E. Capuano, MA
NAY - Rep. Joe Baca, CA
NAY - Rep. Stephen F. Lynch, MA
NAY - Rep. Brad Miller, NC
NAY - Rep. Al Green, TX
NAY - Rep. Emanuel Cleaver, MO
NAY - Rep. Melissa L. Bean, IL
NAY - Rep. Gwen Moore, WI
NAY - Rep. Keith Ellison, MN
NAY - Rep. Ron Klein, FL
NAY - Rep. Charles Wilson, OH
NAY - Rep. Joe Donnelly, IN
NAY - Rep. Bill Foster, IL
NAY - Rep. Andre Carson, IN
NAY - Rep. Mary Jo Kilroy, OH
NAY - Rep. Jim Himes, CT

Why don't you give 'em a call and tell 'em what you think of 'em.

I'm sure they'd love to hear from you - you can find their phone and fax numbers at http://www.house.gov.

Go listen to Mr. Grayson's statement again. Now tell me how The Fed's move to dilute our currency literally by half isn't going to "raise inflation expectations" and "have an impact on the dollar."

Never mind the impact that has already occurred. Is Barney Frank freaking blind? What say you to this, Mr. Frank, considering that all of this dollar damage has occurred since The Fed decided to start monetizing Treasury and MBS debt:

Full:

http://www.market-ticker....

AGREE 100% with that post, call them all and make especially sure that the slimebag of Melvin Watt and Barney Frank finally get fired. I do not want to know how much money the FED has put up their .....to defend their cause. It is time America wakes up and tells these NAY sayers that we are following their watering down manoeuvers and that they are now FULLY EXPOSED to who they are and who's loyalties they follow.
VOTE THEM OUT OF OFFICE

oliver robert ike

Video with functional audio???

The audio on these clips still does not work. Anyone have an alternative?

Protections for anonymous speech are vital to democratic discourse. Allowing dissenters to shield their identities frees them to express critical, minority views...Anonymity is a shield from the tyranny of the majority. - SCotUS, 1995

NC~McHenry and Jones both co-sponsored 1207

FYI~ thier names should be in bold also

*****
"I think we are living in a world of lies: lies that don't even know they are lies, because they are the children and grandchildren of lies." ~ Chris Floyd

"I think we are living in a world of lies: lies that don't even know they are lies, because they are the children and grandchildren of lies." ~ Chris Floyd

Wahoo!

Great job peeps!

so blarny fwank

is a backstabbing SOB? Huh.

lol

It's sad but true... but your play on his name made me chuckle.

"Every advance first comes into being as the luxury of a few rich people, only to become, after a time, the indispensable necessity taken for granted by everyone." Mises

SteveMT's picture

Market-Ticker Story: "It's about damn time."

Paul/Grayson Amendment Passes In Committee
Friday, November 20. 2009
Posted by Karl Denninger in Corruption at 08:17
Short version:

It's about damn time.

Yes, it's a first step - but an important first step, and it happened yesterday. Here's what Representative Grayson said at the time of debate:

Bloomberg wasted no time giving the "loyal opposition" to transparency all the digital ink they desired:

“It’s going to be seen as weakening the independence of monetary policy with consequent negative implications,” Frank told reporters after the vote. “People are going to be worried about the impact on the dollar, on the interest rate.”

Each and every one of the Representatives listed below, by voting "NAY" today, has violated his or her oath of office, has committed an act of violence against The Constitution of The United States, is unfit for their office, and must resign:

NAY - Rep. Barney Frank, MA
NAY - Rep. Paul E. Kanjorski, PA
NAY - Rep. Maxine Waters, CA
NAY - Rep. Carolyn B. Maloney, NY
NAY - Rep. Luis V. Gutierrez, IL
NAY - Rep. Nydia M. Velázquez, NY
NAY - Rep. Melvin L. Watt, NC
NAY - Rep. Gary L. Ackerman, NY
NAY - Rep. Gregory W. Meeks, NY
NAY - Rep. Dennis Moore, KS
NAY - Rep. Michael E. Capuano, MA
NAY - Rep. Joe Baca, CA
NAY - Rep. Stephen F. Lynch, MA
NAY - Rep. Brad Miller, NC
NAY - Rep. Al Green, TX
NAY - Rep. Emanuel Cleaver, MO
NAY - Rep. Melissa L. Bean, IL
NAY - Rep. Gwen Moore, WI
NAY - Rep. Keith Ellison, MN
NAY - Rep. Ron Klein, FL
NAY - Rep. Charles Wilson, OH
NAY - Rep. Joe Donnelly, IN
NAY - Rep. Bill Foster, IL
NAY - Rep. Andre Carson, IN
NAY - Rep. Mary Jo Kilroy, OH
NAY - Rep. Jim Himes, CT

Why don't you give 'em a call and tell 'em what you think of 'em.

I'm sure they'd love to hear from you - you can find their phone and fax numbers at http://www.house.gov.

Go listen to Mr. Grayson's statement again. Now tell me how The Fed's move to dilute our currency literally by half isn't going to "raise inflation expectations" and "have an impact on the dollar."

Never mind the impact that has already occurred. Is Barney Frank freaking blind? What say you to this, Mr. Frank, considering that all of this dollar damage has occurred since The Fed decided to start monetizing Treasury and MBS debt:

Full:

http://www.market-ticker.org/archives/1646-PaulGrayson-Amend...

Audio isn't working

It's just static.

What's up with that? I know I'm not the only one, because others have commented on it in the YouTube text comments.

Protections for anonymous speech are vital to democratic discourse. Allowing dissenters to shield their identities frees them to express critical, minority views...Anonymity is a shield from the tyranny of the majority. - SCotUS, 1995

Rep. Gary Ackerman = NAY?

What a fraud this guys is.

Look him up. He's been one of the biggest loudmouths criticizing the waste of the bailouts, etc. He uses bombastic rhetoric to attract attention as a crusader. And he votes NAY. What a pathetic fraud. He needs to be raked over the coals by the Scarboroughs and Ratigans of the media and exposed to the larger public.

Protections for anonymous speech are vital to democratic discourse. Allowing dissenters to shield their identities frees them to express critical, minority views...Anonymity is a shield from the tyranny of the majority. - SCotUS, 1995

W.O.W.

Just when I think he's as excellent as he can be, Ron Paul kicks all kinds of ass and gets even better...like a fine wine.

Obama = O.ne B.ig A.ss M.istake A.merica

Obama = O.ne B.ig A.ss M.istake A.merica

Been really busy lately...

...but I had to jump in and say good work everyone!

We have a ways to go, but this victory just goes to show that when we participate in our Governmental process we can influence the system to better suit the needs and goals of the people.

Special thanks to Paul and Grayson for representing us in this matter!

This just strengthens

my hopes that the Honorable Dr. Ron Paul will run in 2012!!

SteveMT's picture

What a breath of fresh air that just blew through Congress today

I felt it all the way out here in Montana.
God bless the Republic!

Debbie's picture

Barney You're Fired in 2010. Anyone in MA Cong. Dist. 4 vote

Earl Sholley to replace Barney Frank next year! http://sholleyforcongress.us/
Throw the bum out!!

Debbie

This guy definitely seems

This guy definitely seems better than the one steeling himself to oppose Watt. Definitely way less neocon, but still a bit hazy on "projection of power" and "isolationism". Does that mean keeping our military machine honed in case it needs to be used, or keeping bases all around the world to keep people afraid? It doesn't seem like a distinction is made very clearly. Other than that he seems decent.

Debbie's picture

Thank you. I don't live there, but the people who do should ask

him those questions and get clear and definite answers.

Debbie

Watt in 2010 You're Fired

I will win against Mel Watt in 2010 as for Brad... what the???
http://nc12thdistrict.com/

This guy does not seem like

This guy does not seem like a good alternative to Watt. Neocon ahoy, according to the reasons he criticizes Mel Watt's voting record here - http://nc12thdistrict.com/Watt_s_Voting_Record.html

Some good points but the usual neocon bad ones. Not a good alternative to Watt, he's just bad for different reasons.

Then Keep Mel I'm sick of

Then Keep Mel I'm sick of this Neocon bull crap. If you want to stay in Afghanistan and Iraq fine. If you want to keep giving your money to other countries instead of finally taking care of America the KEEP MEL I'm sure him and his banker pals would love to send some more money to other countries...If you want America to keep putting its nose into other countries business then KEEP MEL...If you want our government to start living on a budget like the rest of us have to do then vote for me...If you want to secure our country instead of everybody else then vote for me...If you want smaller government and states rights then vote for me...If you want America to continue to be a nanny state with a welfare check to everyone then KEEP MEL if you don't like transparency in your government then KEEP MEL...If you want to change our country back to the way our founders intended it to be then vote for me...I'm not in this race to be another puppet of K St. I'm here for us.

You Said
Some good points but the usual neocon bad ones. Not a good alternative to Watt, he's just bad for different reasons.
Put them out there so I can see what reasons your talking about. Because if your talking about not funding our troops your a loon I'll never endanger our troops in the field. I'm for bringing them home and not getting into others affairs again. I also noted Wat refusal to be in favor the enhanced Amber Alert are you in favor of pedophiles.Wat also Voted No on Global War on Terror Resolution. H Res 861: Declaring that the United States will prevail in the Global War on Terror, the struggle to protect freedom from the terrorist adversary. I want to protect America from another 9/11 this was a resolution not a law.
Maybe you talking about how Watt voted no to the Partial-Birth/Late-Term Abortion bill. HR 1122 Maybe your in favor of killing BABIES like Mel...I just had a granddaughter that was born premature but if her mother decided to have a late term abortion they could have legally killed my granddaughter...If you've never seen a late term abortion then google it and see how they kill the baby as its arms and legs are moving around as they put scissors into the base of the head to kill the baby. Please tell me what is so great about Mels voting record and how he likes to flip flop on things......Tel me how on my webpage under my Political Views makes me worst than Mel... Have you even read my views?

Just amazing to hear Mel Watts lie through his teeth for the

record when he poo-pooed the assertion that "a bunch of money was given over to European banks" Well, Mell, duh!!! That testimony was already given by Paulson and Bernake when asked by congressional members where the money did go. It was confirmed much of it went to European banks. When asked WHO were those banks, the answer by both was "Don't know".

Mell, either this is a real good act you have going or maybe Alan was being too generous when he said he was sure you had 'good intentions'.!!! Right.

http://www.mngop54b.org/

http://www.mnlg.org

http://www.therootsofchange.com

http://www.cc2009.us

Michael Nystrom's picture

'a surprising display of political rebellion"

http://www.nytimes.com/2009/11/20/business/20regulate.html

In a surprising display of political rebellion, about half the Democrats present and all the Republicans voted for Mr. Paul’s bill instead of a compromise measure drafted by Representative Mel Watt, Democrat of North Carolina.

exempt?

"Exempts unreleased transcripts and minutes from meetings of the Board and FOMC to address the Fed’s concerns that free and open debate in their meetings would be stifled."

Why are we not allowed to know?

Thanks all. I still have a

Thanks all. I still have a sliver of hope for our great republic! (What's left of it anyway!)

You Judge A Tree By It's Fruit, NOT its Flower

"It is difficult to free fools from the chains they revere".
--Voltaire

It's hard not to be a menace to society when half the population is happy on their knees. - unknown

I forgot, I love you

I forgot, I love you all!!!

You Judge A Tree By It's Fruit, NOT its Flower

"It is difficult to free fools from the chains they revere".
--Voltaire

It's hard not to be a menace to society when half the population is happy on their knees. - unknown

Woo Hooo!!!!!

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!

I was told by one of Gwen

I was told by one of Gwen Moore's secretarys that she was in favor of this bill. .......
"The politics of failure have failed! We need to make them work again!" Kang

-=Sui Juris=-

My Musical Exuberation & Celebration on VICTORY Today! - HR1207

My Musical Exuberation & Celebration on VICTORY Today! - HR1207 | Ron Paul 2012 | http://j.mp/2IuqXc