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McHenry Backs Federal Reserve Transparency Act

Posted By admin On May 6, 2009 @ 9:42 am In U.S. News | Comments Disabled

Lincoln Tribune [1]
Wednesday, May 6, 2009

WASHINGTON – Congressman Patrick McHenry (NC-10) announced today that he is co-sponsoring H.R.1207, the Federal Reserve Transparency Act of 2009.

“The role of the Federal Reserve has grown significantly as it is now the agency most responsible for addressing turmoil in financial markets. However, the Fed is only required to disclose a small amount of information about its activities. Given the significant consequences of its ongoing actions, greater transparency at the Federal Reserve is imperative,” stated Congressman McHenry.


McHenry Backs Federal Reserve Transparency Act obama 340x169 [2]

The legislation eliminates restrictions on audits of the Federal Reserve by the Government Accountability Office and subjects the Fed’s operations to greater scrutiny. The Comptroller General would be directed to complete, before the end of 2010, an audit of the Federal Reserve System and report its finding to the Congress.

Congressman Ron Paul (TX-14) is the original sponsor of HR.1207, which has broad bipartisan support including 112 co-sponsors.

Full story here. [1]

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URLs in this post:

[1] Lincoln Tribune: http://www.lincolntribune.com/modules/news/article.php?storyid=12043

[2] Image: http://www.prisonplanet.tv/

[3] Ron Paul On Bringing Transparency To The Federal Reserve: http://www.prisonplanet.com/ron-paul-on-bringing-transparency-to-the-federal-reserve.html

[4] Press Release: Federal Reserve Accountability Act An Unacceptable Compromise: http://www.prisonplanet.com/press-release-federal-reserve-accountability-act-an-unacceptable-compromise.html

[5] Gallup Poll: Americans Turning Against Federal Reserve: http://www.prisonplanet.com/gallup-poll-americans-turning-against-federal-reserve.html

[6] Federal Reserve General Counsel Scott Alvarez Threatens the U.S. with Economic Terrorism: http://www.prisonplanet.com/federal-reserve-general-counsel-scott-alvarez-threatens-the-u-s-with-economic-terrorism.html

[7] Will the Federal Reserve spill the beans?: http://www.prisonplanet.com/will-the-federal-reserve-spill-the-beans.html

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