WTF? Kucinich Introduces Own Bill to 'Review' the Federal Reserve...
What the hell is going on? Why is Kucinich introducing his own legislation, instead of joining the already 165 cosponsors of HR 1207?? From the Congressman's website:
http://kucinich.house.gov/News/DocumentSingle.aspx?DocumentI...
Washington, May 15 - Congressman Dennis Kucinich (D-OH) has introduced legislation that would allow, for the first time, the government to audit and oversee the Federal Reserve’s response to the economic crisis. H.R. 2424, The Federal Reserve Credit Facility Act of 2009 would authorize the Government Accountability Office (GAO) to audit, review and investigate the activities of the Federal Reserve (the Fed) in response to the economic crisis gripping our nation. The bipartisan bill is cosponsored by Chairman Ed Towns (D-NY) and Ranking Member Darrell Issa (R-CA) of the Oversight and Government Reform Committee, as well as Jim Jordan (R-OH), the Ranking Member of the Domestic Policy Subcommittee, which is chaired by Kucinich. The bill has been referred to the Oversight and Government Reform Committee for consideration.
“The Federal Reserve has been operating in a governmental netherworld, free from scrutiny or oversight. We know the Fed has printed and loaned trillions of dollars, but we don’t know where the money went. This bill will finally provide some transparency,” said Kucinich.
Traditionally the Federal Reserve has limited itself to setting the federal funds rate target (the overnight interest rate that banks charge each other) by purchasing government securities. Since August 2007, the Fed has drastically expanded its role in our economic stability by enacting programs to print and lend trillions of dollars directly into the economy.
“Despite the fact that the Fed’s actions are a centerpiece of our nation’s response to our economic recovery, we know almost nothing about how the Federal Reserve has addressed the crisis. It’s time investors and taxpayers obtained a clear picture,” added Kucinich.
The Fed has enacted several new programs to address the financial system’s crisis including the Term Asset-Backed Securities Loan Facility (TALF), the Mortgage Backed Securities Purchase Program, and a number of other emergency lending programs that are not subject to Congressional oversight.
_______
UPDATE:
Have a *chat* with Dennis...let him know how you feel!
...why isn't he behind Ron Paul and signing onto 1207?
_____________
Lakewood Office
14400 Detroit Avenue
Lakewood, Ohio 44107
216-228-8850 Phone
216-228-6465 Fax
__________
Parma Office
Parmatown Mall
7904 Day Drive
Parma, Ohio 44129
440-845-2707 Phone
440-845-2743 Fax
______________
Washington Office
2445 Rayburn HOB
Washington, DC 20515
202-225-5871 Phone
202-225-5745 Fax
Kucinich at it again!
He has now adopted an ammendment in the bill HR 2646 to allow for an audit/review of the Fed. I posted a topic about this yesterday, but it has somehow disappeared from the forum. Check it out. Why is he putting so much work into this, and not supporting HR 1207???
http://kucinich.house.gov/News/DocumentSingle.aspx?DocumentI...
http://theconstitutionalists1.blogspot.com
Your post fell off the front, that's all.
I can see a bunch of stuff of yours when you click on "Daily Paul General Forum".
Ron Paul "Sign Wave Across the USA" -- November 5th!
You mean this one from yesterday?
http://www.dailypaul.com/node/95439
Ron Paul "Sign Wave Across the USA" -- November 5th!
Thanks for that tidbit!
You mean one of our moderators 'disappeared' your post? Oh boy, here we go again!
Haha, yes. The disappearing
Haha, yes. The disappearing threads... With Kucinich doing this, I think he is begging for us to give him a piece of our mind, again!
http://theconstitutionalists1.blogspot.com
revising my statment
Ok, after looking at it again, I believe that the the phrase
In General- Subsection (b) of section 714 of title 31, United States Code, is amended by striking all after ‘shall audit an agency’ and inserting a period.
If that includes the subsection of section (b) then the law would change from this....
---------------------------------------------------------------
(b) Under regulations of the Comptroller General, the Comptroller General shall audit an agency, but may carry out an onsite examination of an open insured bank or bank holding company only if the appropriate agency has consented in writing. Audits of the Federal Reserve Board and Federal reserve banks may not include—
(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection.
---------------------------------------------------------------
to this
(b) Under regulations of the Comptroller General, the Comptroller General shall audit an agency.
Which would, if I am correct, allow for future audits! Basically, what I am saying is that if I understand it correctly 1207 would allow for future audits as well as require an audit be completed by 2010. So H.R.2424 is a weaker compared to H.R.1207. Don't support 2424, 1207 all the way!
There are differences!
Ok so I have been reading both bills and there are pros and cons to both as far as I can tell. So, here are the differences from what I can make out of the legal mumbo jumbo.
H.R. 1207 is a required one time audit which is good because it is required to be completed by the end of 2010, but also bad because it does not say anything about future audits.
H.R. 2424 allows audits of the fed to take place for five years after the signing of the bill at the discretion of the Comptroller General. This is both good and bad. Good because it allows for future audits, bad because it does not require any audits, it's up to the Comptroller General. Also, H.R. 2424 is much more detailed that H.R. 1207, but I don't know if that's a good thing or not.
You can find both bills here
1207
http://www.govtrack.us/congress/billtext.xpd?bill=h111-1207
2424
http://www.govtrack.us/congress/billtext.xpd?bill=h111-2424
Please feel free to read them and voice your opinions about them.
Very simple.
The Dems want to have this "type of bill" to be originated and sponsored by them, so that no Repubs get any credit for it. Especially anybody like Ron Paul, because it's certain that the Dems are seeing the popularity rise, and they fear him as a contender in the future. So, they need to "ace him out", and turn the popularity light onto themselves instead.
And since Kucinich is in the Democrat bag, and a faithful and radical socialist anti-freedom left-wing statist, he fits right in as the kind of guy who will carry water for Nancy Pelosi.
The only thing Kucinich EVER had going for him was his "anti-war" stance. And that was obviously a simple partisan ploy, because it's totally evaporated now that Obama is doing the warring.
Kucinich is trash.
One thing should be made
One thing should be made clear about Kucinich's HR2424 is that it was not referred to the House Financial Services committee, but rather the House Committee on Oversight and Government Reform. Not only that, though Kucinich is credited with introducing the bill, if you look here you'll see
Well, congressman Towns (D) is the Chairman of this committee and congressman Issa (R) is the Ranking Member of the committee. Kucinich (D) and Jordan (R) are also both members of the committee.
So, what this bill may be lacking in support in terms of cosponsors, it makes up for by having the key players on board.
As far as how the existence, success or failure of this bill impacts HR1207, I don't know. All I know is keep contacting your congressmen. If there Dems, make sure they see the letter from Alan Grayson. If Republican, make sure they know that this bill is cosponsored by 147 other Republicans including 26 of the 29 Republicans on the House Financial Services committee.
Yes, I also noticed that and asked the question...
Whose bill do you think will come out committee first? Or come out of committee at all...the bill of appeasement or Ron Paul's bill
Nobody knows, and what I or
Nobody knows, and what I or anyone else thinks is of no relevance. What matters is for each to make our opinions known to our congressmen.
For all I know, there's already concern that that S.604 doesn't stand a chance of making it through the senate and so HR.2424 will come along as a fall back. I just hope it's not too early and that it's mere existence will already have some thinking that HR2424 is more "practical" or "reasonable" and less "radical".
I try not to worry about things beyond my control or pretend to know why Kucinich or any other congressman has yet to cosponsor HR1207. I don't know if it's personal retribution, idealogical differences, laziness, procrastination, pressure from lobbyists, lack of pressure from constituents, jealousy, the Bilderbergs, CFR, CIA, Costra Nostra, communists, etc. Whatever the reason, we need to do our best to present a stronger reason for them to give their support.
Great post nelsonwinters
Thank you for that information
Have a good posting day!
(((( Hug to you )))) ;)
___.---.___
.' ( ) '.
) /)' '( )
',_( ';-;'\_,'
|-|
(")
(No subject)
"AMI considers the Austrian School as monetarily illiterate"
Kucinich is not Ron Paul's friend when it comes to sound money.
As Anisha posted below:
"AMI considers the Austrian School as monetarily illiterate and not having done their homework"
http://www.monetary.org
Ron Paul's Convention Speech
Ron Paul's Convention Speech
he's not ron's friend when it comes to sound money
cuz he doesn't no shit. that's why!
and actually "friend" is not even the right word cuz i don't think dennis has a clue about sound money.
Ron Paul is my President
Ron Paul is My President
I haven't read Kucinichs' bill...But...What if...
What if... Kucinich submitted his bill very simular to Ron's in an effort to PREVENT another Democrat from submitting a simular even more watered down bill than his own? ...If you catch my drift.
It seems it would be more damaging to Paul if another dem had submitted a simular bill that dems would get behind, but perhaps Kucinich is covering Ron's back by preventing Dems from coming up with an even more watered down version than Kucinichs' bill that the dems would of otherwise supported.
Like I said, I hadn't read it, but since the speculations are flying around, I thought I throw one in. Perhpas in Kucinichs' mind, he's doing Paul a favor. Who knows at this point, they're all playing a game of politics.
This is just speculation, but If the dems were going to submit a bill of thier own, who then would you rather it be?
Respectfully.
It's Not Similar, And It's Not An "Audit The Fed" Bill.
It's very limited.
____________________________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
dennis and ron are friends
this is not a big bad secret plan. Dennis will bring some of the left to our side. Will you retards please shut up and go away.
Right, We Need A Watered-Down Bill So The Left Will Like Us.
That will help.
____________________________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
Why Kucinich Not Co-sponsor HR1207?? He not want transparency??
.
this has nothing to do with being friends.
good grief, "friendship" is NOT part of this equation.
Ron Paul is my President
Ron Paul is My President
Name Calling...
Will just make the liberty movement look out to be a bunch of bickering crazies. This is the kind of image we are trying to stop! I understand your frustration, but right now we need to pull together and go on with the DK Phone bomb!
Regardless if this is a conspiracy or not, ALL of us want Kucinich to sign onto 1207!
http://www.dailypaul.com/node/93730
Bingo!
____________________________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
Yeah, I hope you are right.
Yeah, I hope you are right. I think this could be a move to get Dennis to get Democrats on his bill and RP to get Republicans on his bill then combine them so that the FED is under a review and an audit. Checkmate?!
WOO HOO!!!
we just picked up 10 more!!!
tough titties dennis!
Ron Paul is my President
Ron Paul is My President
I'm not seeing the competiton between bills
They appear compatable to me. So I am not understanding the attacks on Kucinich here, except fear (he is competing with 1207) prejudice (he is a socialist) and hate (he is a Democrat).
Am I wrong?
Have a good posting day!
(((( Hug to you )))) ;)
___.---.___
.' ( ) '.
) /)' '( )
',_( ';-;'\_,'
|-|
(")
granger, ron says that often about dennis.
i know that the two are friends. but this is much bigger than being buddies.
and for me it is NOTHING about fear, prejudice or hate. good grief - not at all~
it's about doing what's right. it's about supporting the doc with his bill that is way more effective and done correctly.
why didn't he co-sponsor ron's bill - that's what i want to know. why?
dennis k is a statist. it's that simple.
think about it!
Ron Paul is my President
Ron Paul is My President
sunny; Those are fair questions
I look forward to the answers from Ron AND Kucinich.. I have a feeling they are in on this together, delivering a one two punch to the neolibs and neocons... we're going to see whos who and what's what from BOTH sides. That is what I believe because I TRUST Ron chooses who he calls FRIEND very carefully.
If Kucinich has betrayed Ron's friendship, as you claim, then Ron is not too smart who he calls friend, eh?
I trust Ron Paul is not lying when he say's Kucinich is his friend, and they are BOTH silent. I would have though Ron Paul would have issued a release by now on Kucinich if he thought Kucinich was betrayting him.
Have a good posting day!
(((( Hug to you )))) ;)
___.---.___
.' ( ) '.
) /)' '( )
',_( ';-;'\_,'
|-|
(")
thanks granger
we both know ron is a very intelligent man and would of course choose his friends wisely. and we also know that this is, as i see it, the most important piece of legislation to go thru congress - ever since the inception of the fed.
friendship is not part of this equation. collaboration of course could be valuable but i really don't think that's what's going on.
ron is doing what needs to be done.
dennis does not have the knowledge that ron does about sound money. i
don't think he has a clue - along with the rest of them.
ron will do what's best for us and i know he is willing to work both sides if it were to benefit all of us but the bills are too different in nature to work together.
and as far as the silence goes - dennis is silent for good reason - he's getting alot of backlash.
and as far as ron goes. he's smart. he's waiting and watching and listening. when the time is right he will say make a statement.
Ron Paul is my President
Ron Paul is My President
Kucinich wants the
Kucinich wants the government to control the credit permanently. I don´t know how anyone here can support him