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House Financial Services Committee APPROVES Bill to Audit the Fed (Rejecting Watt’s Fake Alternate) and Votes to Rein In Foreign Currency Swaps

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Washington’s Blog
Friday, Nov 20th, 2009

Congressman Watt tried to de-rail the bill to audit the Federal Reserve (H.R. 1207) with a fake alternate bill. See this, this, this and this.

Fortunately, the House Financial Services Committee approved H.R. 1207 by 43-26, and rejected Watt’s bill.

In addition, Congressmen Grayson and Paul’s bill requiring written concurrence by the Treasury Secretary prior to the Federal Reserve engaging in a foreign currency swap passed the House Financial Services Committee by a voice vote today.

If you haven’t already seen it, watch Congressman Grayson grill Bernanke about foreign swaps:

If you don’t know what foreign currency swaps are, or why the Fed has been running amok with them, watch Congressman Grayson discuss the amendment:

House Financial Services Committee APPROVES Bill to Audit the Fed (Rejecting Watts Fake Alternate) and Votes to Rein In Foreign Currency Swaps  121109banner2

This article was posted: Friday, November 20, 2009 at 5:27 am





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