Letter from Dave Reichert on HR 1207 and my response

Not sure if my letter is useful to anyone, but please recycle if you'd like:

His letter:

Dear Mr. Gregson,
Thank you for contacting me about H.R. 1207, the Federal Reserve Transparency Act. I appreciate your thoughts on this matter and welcome the opportunity to respond.

The Federal Reserve ("the Fed") is the central bank of the United States and is responsible for ensuring the safety and stability of our monetary system. In this role, the Federal Reserve, among other things, crafts a monetary policy designed to maintain market stability through changing economic conditions. Currently, the Fed operates independently of congressional oversight.

As you may know, on March 19, 2009, I served as the Ranking Member of a Ways and Means Oversight Subcommittee hearing that focused on the need for more transparency and accountability of federal borrowing. I specifically asked the Acting Comptroller, General Gene Dodaro, how we can improve oversight over the Treasury and Federal Reserve's use of taxpayer dollars. I believe that we must know exactly how "bailout" funds are being used and establish specific metrics to gauge the effectiveness of unprecedented new federal spending.

On February 26, 2009, Representative Ron Paul (R-TX) introduced the Federal Reserve Transparency Act (H.R. 1207), which would eliminate restrictions on the General Accounting Office (GAO) audits of the Federal Reserve, thus opening Federal Reserve operations to enhanced scrutiny and congressional oversight. Additionally, this bill calls for a complete GAO audit of the Federal Reserve by the end of 2010. H.R. 1207 was referred to the House Committee on Financial Services. As a co-sponsor of this legislation, I believe that it is critical to have the necessary oversight tools available to government agencies. Please rest assured that I will continue to work with my colleagues to promote policies to control waste, fraud, and abuse in government.

Again, thank you for taking the time to get in touch with me. Your interest and input are valued and I hope to hear from you in the future regarding other matters of importance. I encourage you to visit my website and sign up for my weekly e-newsletter at http://reichert.house.gov/ to learn more about other issues impacting the 8th Congressional District and our nation.

Sincerely,

David G. Reichert
Member of Congress

My response:

Dear Mr. Reichert,

Thank you for your e-mail back on this matter. I applaud and love the fact that Ron Paul’s ideals and morals have a place in the Republican Party now more than ever before, certainly more than during the last election. I contacted you some months ago urging your support on HR 1207, and although I hadn’t heard a response, I did note that you had signed on as a co-sponsor of the bill and have been meaning you contact you with a note of thanks. Your mail today, reminded me of that “to do” item and prompted me to write this e-mail. Thank you for supporting HR 1207!!

I have also noted a similar bill introduced by Dennis Kucinich (D-OH) HR 2424, and have to wonder the goal of this bill. Certainly, it wouldn’t be too far of a stretch to see it as a cover tactic from the Dems for the increasing popularity of HR 1207, I urge your support to remain with Ron Paul, his ideals, his principles, and his unwavering dedication to this great country. I’m sure a man such as yourself can sit back and judge who is on the side of America and who is not.

I have also noted recent GOP re-grouping speeches from Jeb Bush and others urging the need for a new sort of Republican party which embraces a more “left side” approach. I’m guessing you can see what my view on this strategy might be. I’m hoping the GOP can find themselves one day soon and realize that turning against, ignoring, and ridiculing their most influential and most “true Republican” group is not the correct way to find themselves once again. I’m hoping that you are able to assist here where possible.

I am planning to attend the Ron Paul reception here at the Doubletree hotel in Seattle on Friday, May 22nd. If given the chance, I plan to ask him about his take on HR 2424 and I’ll be glad to send a follow-up e-mail to you with his thoughts. I’ll also keep my eyes open for you, as maybe you’ll be in attendance, at which time I’d love the opportunity to shake your hand and give a personal “Thank You” for your support. Hope to see you there. (link below)

http://www.campaignforliberty.com/event/2009seattle.php?page...

Sincerely,