Update - S 604 - 30 Co-sponsors

In a town hall meeting with Arlen Specter at my company's office yesterday, I said that the Federal Reserve is responsible for the booms and busts since 1913, that it's made up of a group of private bankers who operate in secret, and that we need transparency into their books and operations. I explained S 604 to audit the Fed and that it already had 30 co-sponsors. I asked him when we could look forward to his co-sponsorship of that bill.

Specter said that he might already be a sponsor of that bill (he isn't), but "if I'm not, I should be." He told his aide to write down the bill so he would remember to look into it when he got back to Washington. I hope he keeps his word.

Till they get the bill to the floor, we should also include 2-3 senators that are non-cosponsors.

bump

albeit a reply that tells me next to nothing. I haven't heard back from Senator Tester yet...he sent me this same kind of nothing letter and I wrote back again asking for a yes or no. I asked them both to please explain why they are not sponsoring S604 and this is what I got from most recently from Baucus:

Thank you for contacting me regarding oversight and transparency of the Federal Reserve. I appreciate hearing from you on this important issue.

As you may know, Senator Bernie Sanders introduced S. 604, The Federal Reserve Sunshine Act of 2009. This legislation has been referred to the Banking Committee. The bill 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, and provide a detailed report to Congress.

Additionally, I co-sponsored an amendment offered by Senator Charles Grassley that was enacted as part of S. 896, The Helping Families Save Their Homes Act of 2009, which was signed into law by President Obama on May 20, 2009. The amendment was adopted in the Senate by a vote of 95-1. This amendment gives the Government Accountability Office the authority to audit actions taken by the Federal Reserve with respect to its emergency economic stabilization powers and financial aid given to private firms.

Ensuring that our government operates in an open and transparent manner is essential. Our democracy works best when citizens are informed and active in the political process. I have always been a strong advocate for legislation that strengthens open government.

Please rest assured that should S. 604 come before the full Senate, I will keep your thoughts and concerns firmly in mind. Thanks again for getting in touch, and please feel free to contact me in the future regarding this or any other issue of importance to you.

Sincerely,

**the soul would have no rainbow if the eyes had no tears**

for getting our senators unstuck.

Members Of Senate... Members Of Congress... look in here... see the CHILDREN of your wars...

Open your eyes... wake up your minds... are you still human...? or became just cyborg... brainwashed and reprogrammed by your money masters from ALL what once you called your Soul...?

“Do NOT do unto others, what you would not want them, DO unto you.”

Remember the Golden Rule... and the blowback... remember what you have done... and still keep doing...

May this be imprinted on your mind... and carved on your heart... is this what you want to come upon your children...?

Children of your making, Senator - Pt1
http://www.dailypaul.com/...

Children of your Making, Senator - Pt2
http://www.youtube.com/us...

---------------

And to We-The-People... please make these videos viral... and get your ‘representatives’ at all levels of the government to watch it...

Try making their eyes to see again... and their hearts, to feel again...

Dear Friend,

Thank you for your message expressing support for the Federal Reserve Sunshine Act. I appreciate hearing your thoughts on this important issue. I apologize for my delayed response.

The Federal Reserve Sunshine Act (S. 604 / H.R. 1207) was introduced in the Senate on March 16, 2009, and in the House of Representatives on February 26, 2009. The Senate bill was referred to the Committee on Banking, Housing, and Urban Affairs and the House bill was referred to the Committee on Financial Services. Both bills reform the manner in which the Board of Governors of the Federal Reserve System is audited by the General Accountability Office (GAO) and the manner in which such audits are reported.

Under the Federal Banking Agency Audit Act (PL 95-320), the GAO has the authority to conduct financial and performance audits of the Board of Governors, and the Federal Reserve banks and branches. However, such audits are limited, as the law stipulates that monetary policy operations, foreign transactions, and the Federal Open Market Committee operations are excluded from the scope of the GAO audits. The Federal Reserve Sunshine Act seeks to expand the GAO's authority by removing these limitations.

As the Federal Reserve Sunshine Act is currently written, I am opposed to the legislation. Under common usage of the term audit -- an examination of accounts and records -- there is already a 100 percent audit of the Federal Reserve. Furthermore, Congress already reviews semi-annual reports on monetary policy submitted by the Board of Governors as required under the Full Employment and Balanced Growth Act (PL 95-523).

When Congress passed the Federal Banking Agency Audit Act in 1978, the legislation attempted to balance the need for public accountability of the Federal Reserve with the need to insulate the Reserve's monetary policy function from political pressures. I believe this balance must be maintained going forward.

The formulation of monetary policy is a decision-making process that involves information gathering from a host of foreign governments and central banks. The information provided from those exchanges is critical and extremely sensitive. The immediate and broad disclosure that S. 604 would require could disrupt the financial markets, and jeopardize our country's international finance relationships. Ultimately, it would be taxpayers who would bear the brunt of any losses resulting from policies caused by untimely disclosure of sensitive information. Because of this, I do not believe the benefits of legislation like the Federal Reserve Sunshine Act outweigh the costs.

Again, thank you for contacting my office. It is truly an honor to represent North Carolina in the United States Senate, and I hope you will not hesitate to contact me in the future should you have any further questions or concerns.

Sincerely,

Signature

Kay R. Hagan
United States Senator, North Carolina

Sending another now and it's not going to be as nice this time.

I called Johanns' office Sunday night and left a somewhat pleasant message. I called Nelson's office just minutes ago, and left a not so nice message, since he was the frontman they selected to use to stall the last bill. I said I strongly supported the legislation and so should he. I added that I'm a single 29-year-old with lots of free time, and if he doesn't support s.604, I'll be hitting the streets when he's up for re-election, doing everything in my power to help his opponent win. I hope he listens, because I'm very serious.

Should I be sending something in writing as well? Call every day? I'm new to this. Any tips are helpful.

Thanks!

In response to an inquiry on where Senator Hagan stands on auditing the Fed:

Hagan, Kay R (D-NC) 202 224-6342

Dear Friend,

Under the Federal Banking Agency Audit Act (PL 95-320), the GAO has the authority to conduct financial and performance audits of the Board of Governors, and the Federal Reserve banks and branches. However, such audits are limited, as the law stipulates that monetary policy operations, foreign transactions, and the Federal Open Market Committee operations are excluded from the scope of the GAO audits. The Federal Reserve Sunshine Act seeks to expand the GAO's authority by removing these limitations.

As the Federal Reserve Sunshine Act is currently written, I am opposed to the legislation. Under common usage of the term audit -- an examination of accounts and records -- there is already a 100 percent audit of the Federal Reserve. Furthermore, Congress already reviews semi-annual reports on monetary policy submitted by the Board of Governors as required under the Full Employment and Balanced Growth Act (PL 95-523).

When Congress passed the Federal Banking Agency Audit Act in 1978, the legislation attempted to balance the need for public accountability of the Federal Reserve with the need to insulate the Reserve's monetary policy function from political pressures. I believe this balance must be maintained going forward.

- Senator Kay Hagan

LiveFreeOrDieNow.com

I need help working her,she is ignorant,or in their pocket.(I suspect the latter)

October 19, 2009

Dear Friend,

Thank you for your message expressing support for the Federal Reserve Sunshine Act. I appreciate hearing your thoughts on this important issue. I apologize for my delayed response.

The Federal Reserve Sunshine Act (S. 604 / H.R. 1207) was introduced in the Senate on March 16, 2009, and in the House of Representatives on February 26, 2009. The Senate bill was referred to the Committee on Banking, Housing, and Urban Affairs and the House bill was referred to the Committee on Financial Services. Both bills reform the manner in which the Board of Governors of the Federal Reserve System is audited by the General Accountability Office (GAO) and the manner in which such audits are reported.

Under the Federal Banking Agency Audit Act (PL 95-320), the GAO has the authority to conduct financial and performance audits of the Board of Governors, and the Federal Reserve banks and branches. However, such audits are limited, as the law stipulates that monetary policy operations, foreign transactions, and the Federal Open Market Committee operations are excluded from the scope of the GAO audits. The Federal Reserve Sunshine Act seeks to expand the GAO's authority by removing these limitations.

As the Federal Reserve Sunshine Act is currently written, I am opposed to the legislation. Under common usage of the term audit -- an examination of accounts and records -- there is already a 100 percent audit of the Federal Reserve. Furthermore, Congress already reviews semi-annual reports on monetary policy submitted by the Board of Governors as required under the Full Employment and Balanced Growth Act (PL 95-523).

When Congress passed the Federal Banking Agency Audit Act in 1978, the legislation attempted to balance the need for public accountability of the Federal Reserve with the need to insulate the Reserve's monetary policy function from political pressures. I believe this balance must be maintained going forward.

The formulation of monetary policy is a decision-making process that involves information gathering from a host of foreign governments and central banks. The information provided from those exchanges is critical and extremely sensitive. The immediate and broad disclosure that S. 604 would require could disrupt the financial markets, and jeopardize our country's international finance relationships. Ultimately, it would be taxpayers who would bear the brunt of any losses resulting from policies caused by untimely disclosure of sensitive information. Because of this, I do not believe the benefits of legislation like the Federal Reserve Sunshine Act outweigh the costs.

Again, thank you for contacting my office. It is truly an honor to represent North Carolina in the United States Senate, and I hope you will not hesitate to contact me in the future should you have any further questions or concerns.

Sincerely,

Signature

Kay R. Hagan
United States Senator, North Carolina

What a load of garbage!

Why did it seem like congressman support came so fast and the senate support is so slow. Or is it just me?

if Senator Feinstein will support this legislation, I've been writing her for the last three weeks! I was surprised that Ma'am Boxer showed support. Here's my latest letter, I'd appreciate any tips that would be useful for this.

-------------------

Dear Senator Feinstein,

Why haven't you co-sponsored S. 604 which would allow the GAO to conduct a complete audit of the Federal Reserve? Thirty of your colleagues have already shown public support for this important legislation. The House version has over 303 co-sponsors and is continuing to grow! You must act upon this legislation soon.

Many people are fearful of the prospect of hyperinflation. Since the Fed has been printing money out of thin air, which is a form of legalized counterfeiting, our dollar continues to suffer in value, which in turn effects the middle class and poor to a tremendous extent. Already China, Australia, and the oil exporting nations of the Middle East are on the verge of replacing our dollar as their reserve currencies with a basket of currencies from Europe and Asia. This will greatly affect the American consumer as shopping at Wal-Mart will look like shopping in Saks fifth Avenue! Even the "gains" in the Dow have only been achieved by the weakening of the dollar, this has lasting consequences that could very well lead to political instability.

President Obama has stated since he took office that he wants a more transparent government. Should you show support for S. 604, you will be helping our President achieve one of his goals in office. Help your constituents, and help our President by supporting an audit of the Federal Reserve and allow this banking establishment to be opened up for the public to see. A free society demands such and action, will you answer the call?

So is the holdup in the House being done in hopes some cosponsors will ask to be taken off the bill? It's so frustrating that it can't just be brought up for a vote.

We need to reinforce our efforts with the senate. It is more difficult than the house.

The current score is 330 to 135 among the total congress critters.

We are over half way there, keep up the pressure.
grant

We're slowly whittling them down. This has been amazing, I never realized how quickly politicians could change their stance when they feel pressure from their constituents.

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
The International Olympic Commitee saved Chicago from the poorhouse by rejecting their bid for the Olympics
http://will86aber.wordpre...

MY Reps Rodger Wicker and Thad Cockran sign up, on the same day 10-1-09 I have called&called&called&emailed&emailed&Faxed&Faxed etc! Thank You Jesus! All mine are on Board NOW even Blue Dog Dem Travis Childers he was the first to sign. :o)

mo fo.

that's what's called makin mah day.

that my Senator (John Kerry) will sign on. But I'm getting ready to give up. My second email to him, sent last week, received a reply today. Here's the first paragraph:

"Thank you for writing to me about climate change. I appreciate hearing your thoughts on this issue."

I've gotten many form letter replies over the years, but never on the wrong subject. Shows me how useless this emailing your "representative" can be in some cases.

I think it's time to put one of these on my car:

"Ron Paul represents me"

Good job peeps!

2 more Republicans! yee haw! woo hoo!

This is great, the R3volution is gaining ground. I hope we can win this time without a single shot being fired.
grant

E-mailed Sen. Voinovich to ask support for 604

The Hypocrisy of Sen. Roberts of Kansas…
He says he is for a balanced budget amendment …

http://roberts.senate.gov...

But he is against the Federal Reserve Audit.

So I guess Senator Roberts thinks we will print our way to a balanced budget.

Push forward.....

Is life so dear or peace so sweet as to be purchased at the price of chains and slavery? Forbid it, Almighty God. I know not what course others may take, but as for me, give me liberty or give me death.”
– Patrick Henry, speech to the Virginia Convention

We have quite a way to go yet, but we will get there.

Just dropped off another petition in person to Senator Mikulski's aide. Very cordially reminded that Babs has nothing to do with the Senate Banking Committee and wonders why we think she would be a co-sponsor. What an opportunity!

I just got a letter back from Herb Kohl with the same rhetoric Ron Kind used to tell me he was against it. So mark Herb Kohl on the list of "non- supporters."

What happened to our daily phone/email/fax bombs?