I am forwarding the following letter to with grate haste. If there ever was a time to make our voices heard it is right now. PLEASE take a moment of your valuable time and call both of your senators and firmly suggest they support SB 604 and call for an up or down vote on SB604 BEFORE they confirm Mr. Bernanke for his second term as Chairman of the Federal Reserve.
Call Senator Bond at 202-224-5721
Call Senator McCaskill at 202-224-6154
Dear C4L Member,
C4L staffers have been working very closely with Senator Jim DeMint’s office in recent days to advance Audit the Fed (S. 604) in the Senate.
Just a little while ago, it was announced that Senator DeMint, who is the lead Senate cosponsor of Audit the Fed, has put a “hold” on Bernanke’s confirmation for a second term as Federal Reserve chairman until S. 604 receives an up or down vote on the Senate floor.
Keep reading for more details on how your immediate action could help make this vote possible.
While Ben Bernanke was handed a few softball questions from establishment politicians during today’s Senate Banking Committee hearing on his nomination, he also faced serious grilling from senators who are tired of his evasive answers and secretive practices.
DeMint is joined by Senator Jim Bunning and S. 604 sponsor Senator Bernie Sanders in pledging to block action on Bernanke’s reconfirmation.
According to DeMint, “Mr. Bernanke has been one of the chief proponents of the Fed’s easy money policy that created the current financial crisis. He ignored asset bubbles, dismissed concerns about the weakness of the dollar, and helped encourage the credit mania that led to the financial panic. Even worse, Mr. Bernanke has refused to accept any responsibility for his role in these actions prior to financial crisis.
Read the rest of his press release here.
Ultimately, Bernanke’s reconfirmation is irrelevant to the main issue, which is bringing real transparency to the Fed.
It doesn’t matter who’s at the wheel of the car; they will still be driving a clunker.
Contact your senators today and tell them that before they consider either reconfirming Ben Bernanke or appointing a new Chairman, they must deliver the answers the American people want and deserve by giving Audit the Fed a standalone, up or down vote on the Senate floor.
And if you live in Kentucky, urge Senator Bunning to take an even stronger stand by cosponsoring S. 604.
You and I have come so far this past year in our battle to Audit the Fed. Now, we have an excellent chance of seeing S. 604 debated on the Senate floor. But we must take immediate action to turn this chance into a reality!
Contact your senators right away!
P.S. Audit the Fed has gotten further than ever before, but we need your help to achieve standalone votes in the House and Senate as we seek to turn it into law! Click here to contribute to C4L today as we work to finish this fight!
Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't
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Ron Paul: “The Federal Reserve is a Government Unto Itself”
In the information age, we need to know what this private Kabul is doing with our children’s money.
I was watching CSPAN yesterday and at the end of Bernaki’s testimony they touched on identifying the “Counterparties” regarding AIG. AIG was operating as a unregulated gambling house since 2000. It promised to cover downside bets that it did not have the capacity to cover.
When these international gamblers won their bets, AIG could not come close to covering the quadrillions of dollars now owed.
The counterparties, are the people who placed these downside bets and are now demanding to get paid. The US Government has stepped in to help and has found itself caught in such a deep hole it cannot even cover the interest payments on AIG’s debts.
Since they are trying to pass the debt onto your children, wouldn’t it be nice to know who the beneficiaries are?
Please call Representative Graves at (202) 225-7041 and ask him to co-sponsor HR 1207 or if he is uncomfortable cosponsoring it, ask him to please express his concerns with the bill.
1207. H.R.1207 : To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.
Sponsor: Rep Paul, Ron [TX-14] (introduced 2/26/2009) Cosponsors (11)
Committees: House Financial Services
Latest Major Action: 2/26/2009 Referred to House committee. Status: Referred to the House Committee on Financial Services.
“We need AIG to be stable … and I would be very concerned that if we started giving out the names of counterparties, people wouldn’t want to do business with AIG,” Kohn said.