Moody Amphitheater
Audit Federal Reserve
RECEIVED Wed., July 8, 2009
Dear Editor,
This July 4 weekend, John Cornyn tried to speak at the Austin tea party but was loudly booed. Voters have not forgotten that our two Texas Republican senators voted for the 2008 bailout.
They could start repenting by cosponsoring S. 604 (the Federal Reserve Sunshine Act of 2009). The House version of the bill (HR 1207) already has 245 bipartisan cosponsors (56%). But the Senate version only enjoys three cosponsors.
Why not audit? No matter what one's position is on the bailouts, the audit is just an audit.
During the recent economic crisis, the Federal Reserve has poured trillions of dollars into the economy with no oversight and has refused to tell Congress who is getting the money or what deals are being made.
The Federal Reserve spends way more than Congress and without oversight. While Congress and America were sidetracked debating a measly $1 trillion bailout, the Federal Reserve bypassed all the arguing and committed $12.8 trillion. That's 14 times all of our currency in circulation. If our “fourth branch of government” is this powerful and unelected, they should at least be open and accountable.
Taking a leadership position while the bill only has three cosponsors in the Senate could earn our senators some very needed applause. Urge your two senators to audit the Federal Reserve System.
This July 4 weekend, John Cornyn tried to speak at the Austin tea party but was loudly booed. Voters have not forgotten that our two Texas Republican senators voted for the 2008 bailout.
They could start repenting by cosponsoring S. 604 (the Federal Reserve Sunshine Act of 2009). The House version of the bill (HR 1207) already has 245 bipartisan cosponsors (56%). But the Senate version only enjoys three cosponsors.
Why not audit? No matter what one's position is on the bailouts, the audit is just an audit.
During the recent economic crisis, the Federal Reserve has poured trillions of dollars into the economy with no oversight and has refused to tell Congress who is getting the money or what deals are being made.
The Federal Reserve spends way more than Congress and without oversight. While Congress and America were sidetracked debating a measly $1 trillion bailout, the Federal Reserve bypassed all the arguing and committed $12.8 trillion. That's 14 times all of our currency in circulation. If our “fourth branch of government” is this powerful and unelected, they should at least be open and accountable.
Taking a leadership position while the bill only has three cosponsors in the Senate could earn our senators some very needed applause. Urge your two senators to audit the Federal Reserve System.
Alan Smith