Senator Susan Collins to Co-Sponsor Audit the FedSubmitted by BrakeyForMaineSenate on Tue, 09/25/2012 - 19:11
I am happy to report a major victory in our campaign for liberty in Maine.
Recently, I worked to gather support for a letter to Senator Snowe, Senator Collins and Senate Nominee Summers to co-sponsor Audit the Fed (S.202). I sent the letter to both of our Senators last week. I am currently working to get a copy in the hands of Charlie Summers.
Today, Senator Collins has announced that she is co-sponsoring Audit the Fed. I was contacted by a member of her staff today, thanking me for the letter we sent to her and informing me of the Senator's decision.
Shortly thereafter, this press release was sent out:
WASHINGTON, D.C.-U.S. Senator Susan Collins has cosponsored legislation to audit the Federal Reserve. S. 202, The Federal Reserve Transparency Act of 2011, was introduced by Senator Rand Paul.
"I agree that stronger oversight and greater transparency of the Federal Reserve are crucial, given the fact that decisions made by the Fed have such a tremendous effect on our economy," said Senator Collins. "In fact, in the last Congress I introduced the Federal Reserve Credit Facility Review Act, which would have given the Government Accountability Office the authority to audit a wide range of credit activities undertaken by the Federal Reserve. I have also supported numerous amendments that would have provided for audits of the Federal Reserve System."
S. 202 would eliminate restrictions on GAO audits, thereby subjecting the Federal Reserve's credit facilities, securities purchases, and quantitative easing activities to Congressional oversight. The bill directs the Comptroller General to complete an audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve banks, and follow up with a detailed report to Congress.
This is a great victory and it wouldn't have been possible without the support of the Maine Liberty Movement.
As of this moment, I have yet to hear anything from Senator Snowe's office. I will reach out to her office to see if there are any updates.
For your own benefit, please find attached the full letter that was sent out.
We had 32 state Republican legislators and over 70% of the Republican State Committee sign on to this letter. Below is the full list of those who signed on.
Republican State Committee
Cumberland County At-Large
Dear Senator Snowe, Senator Collins and Senate Candidate Summers,
Recently, a historic piece of legislation passed the United States House of Representatives. On Wednesday, July 25, 2012, Texas Congressman Ron Paul’s “Federal Reserve Transparency Act of 2012″ (H.R. 459) was passed by an overwhelming majority of the House with 327 in favor and 98 opposed. Among House Republicans, the vote was nearly unanimous in the bill’s favor. Among House Democrats, eighty-seven representatives broke with Democrat Party leadership to vote in favor, including our own Chellie Pingree (ME CD-1) and Michael Michaud (ME DC-2) who co-sponsored and voted for the legislation.
For nearly a century since its establishment in 1913, the Federal Reserve has operated in secrecy with little to no oversight from our elected representatives. Meanwhile, the Federal Reserve has exercised its monopolistic power to print US dollars and inflate our currency with reckless abandon. Many economists, including Nobel-Prize winner F.A. Hayek, have attributed our nation’s endless boom-bust business cycle---from the Great Depression to today’s Great Recession---to reckless monetary decisions by the Federal Reserve.
While Americans stood angry over the $700 Billion TARP Bank Bailouts to Wall Street that were approved by Congress in the midst of the 2008 Housing Crisis, it was later discovered that the Federal Reserve secretly printed and handed out an additional $16.1 Trillion in bailout funds to those same banks. This newly created money has diminished the purchasing power of all American’s savings, leading to higher prices for all of our daily essentials, including gas and food. All this took place without the knowledge of our representatives in Congress.
Now it is time for full transparency at the Federal Reserve through a full audit of its activities. With Congressman Paul’s “Federal Reserve Transparency Act of 2012″ passing the House of Representatives, the life or death of this important piece of legislation now rests in the US Senate.
In the Senate, a parallel piece of legislation (S.202) to audit the Federal Reserve has been sponsored by Kentucky Senator Rand Paul. Twenty additional Senators from across our nation have pledged their support as co-sponsors for this important bill, including prominent senators such as Marco Rubio (R-FL), Jim DeMint (R-SC) and our former Republican Presidential Nominee, John McCain (R-AZ). At this moment, neither of our sitting Republican Senators from Maine have pledged to co-sponsor this legislation.
We, the undersigned, as members of the Maine Republican Party, invite you to declare your support for a full audit of the Federal Reserve. To our sitting Republican Senators, Olympia Snowe and Susan Collins, we ask for your immediate co-sponsorship of Senator Rand Paul’s legislation (S.202). As supporters of transparency across the nation push for an up-or-down vote on the Senate floor, your leadership in the Senate will go a long way to making “Audit the Fed” a reality. To our Republican Senate Nominee, Charlie Summers, we ask for your declaration of support for an audit of the Federal Reserve and a promise to co-sponsor such legislation if and when it comes before you as a member of the United State Senate.
Very few moments in American history rise to this level of importance. For a century, the Federal Reserve has gone without transparency or accountability. Now we have a clear opportunity to take a stand. Please join us in demanding a full audit of the Federal Reserve Bank.
Republican Legislative Signers:
1. Ron Collins - Maine Senate - District 2
2. Lois Snowe-Mello - Maine Senate - District 15
3. Debra Plowman - Maine Senate - District 33
4. Alexander Willette - Maine House - District 7
5. Jeff Gifford - Maine House - District 12
6. Joyce Fitzpatrick - Maine House - District 8
7. Douglas Damon - Maine House - District 16
8. David Johnson - Maine House - District 20
9. Stacey Guerin - Maine House - District 22
10. Joyce Maker - Maine House - District 31
11. Richard Malaby - Maine House - District 34
12. Ryan Harmon - Maine House - District 45
13. Deborah Sanderson - Maine House - District 52
14. David Cotta - Maine House - District 55
15. Karen Foster - Maine House - District 58
16. Kim Olsen - Maine House - District 64
17. Dennis Keschl - Maine House - District 83
18. Larry C. Dunphy - Maine House - District 88
19. Lance Harvell - Maine House - District 89
20. Tom Winsor - Maine House - District 95
21. Jeff Timberlake - Maine House - District 96
22. Rich Cebra - Maine House - District 101
23. Mike McClellan - Maine House - District 103
24. Ellie Espling - Maine House - District 105
25. Meredith Strang Burgess - Maine House - District 108
26. Amy Volk - Maine House - District 127
27. Heather Sirocki - Maine House - District 128
28. Aaron Libby - Maine House - District 139
29. Paul Bennett - Maine House - District 141
30. Joan Nass - Maine House - District 144
31. Beth O'Connor - Maine House - District 145
32. Kathy Chase - Maine House - District 147
Republican State Committee Signers:
1. Rick Bennett - Former National Committeeman
2. Ashley Ryan - National Committeewoman
3. Mark Willis - National Committeeman
4. Ruth Summers - State Party Vice Chairman
5. Kenneth Quinn - Androscoggin County Chair
6. Linda Anthony - Androscoggin Committeewoman
7. Thomas Barry III - Androscoggin At-Large
8. Hayes Gahagan - Aroostook County Chair
9. Brian Violette - Aroostook Committeeman
10. Deanna Rogan - Aroostook Committeewoman
11. Robert Roy - Aroostook At-Large
12. Jonathan Pfaff - Cumberland Committeeman
13. Ann-Marie Grenier - Cumberland Committeewoman
14. Erin Daly - Cumberland At-Large
15. Eric Brakey - Cumberland At-Large
16. Chris Lyons - Cumberland At-Large
17. Andrew Rackliff - Cumberland At-Large
18. Olga Laplante - Cumberland At-Large
19. Ryan Morgan - Franklin County Chair
20. Eric White - Hancock County Chair
21. Richard Deckers - Hancock Committeeman
22. Renee Trust - Hancock Committeewoman
23. William Barker - Hancock At-Large
24. Garfield Holmes - Kennebec County Chair
25. Jeff Cucci - Kennebec Committeeman
26. Adam Thompson - Kennebec At-Large
27. Landon St. Peter - Kennebec At-Large
28. Jan Dolcater - Knox County Chair
29. Russell Montgomery - Knox Committeeman
30. Cynthia Rosen - Knox Committeewoman
31. Gregory Hodge - Lincoln Committeeman
32. Anna Morkeski - Lincoln Committeewoman
33. Tom Curtis - Oxford County Chair
34. Peter Laverdiere - Oxford Committeeman
35. Bryan Daugherty - Penobscot Committeeman
36. Julie Morgan - Penobscot Committeewoman
37. Victor Berardelli - Penobscot At-Large
38. Roger Ek - Penobscot At-Large
39. Michelle Anderson - Penobscot At-Large
40. Jim White - Piscataquis Committeeman
41. Trisha White - Piscataquis Committeewoman
42. Tyler Washburn - Sagadahoc Committeeman
43. Diane Simmler - Sagadahoc Committeewoman
44. Cynthia Izon - Somerset County Chair
45. Joel Stetkis - Somerset County Committeeman
46. Wanda Labreque - Somerset Committeewoman
47. Raymond St.Onge - Waldo County Chair
48. Shirley Smith - Waldo Committeewoman
49. Chris Gardiner - Washington County Chair
50. Shane Curtis - Washington Committeeman
51. Violet Willis - Washington Committeewoman
52. Ron Morrell - York County Chair
53. Burnell Bailey - York Committeeman
54. Karen Gerrish - York Committeewoman
55. Lindsay Carter - York At-Large
56. Rachel Gerlach - York At-Large
57. Mike Coleman - York At-Large
58. Jim Fossel - Chair of Young Republicans