Soliciting Thoughts On This: Federal Reserve Transparency
If you don’t mind guys, I’d like to solicit your take on this.
Question is this – what is your view of this move by Rep. Blunt. Is this a positive sign for him/the establishment, or do you treat this cynically as a hollow gesture? I’m curious to hear your reactions.
Blunt Cosponsors Legislation Promoting Federal Reserve Transparency
Washington, D.C. – Missouri Congressman Roy Blunt this week cosponsored legislation introduced by Congressman Ron Paul (Texas) eliminating restrictions on government audits of the Federal Reserve and providing greater transparency of the organization’s operations.
“During these troubling economic times, it’s more important than ever to demand an increased level of transparency from financial institutions at all levels. An extra level of transparency could prevent our current troubles from worsening – and perhaps could have prevented them from becoming this severe,” Blunt said. “The Fed is currently taking extreme measures in dealing with our economy and financial markets. It’s important they explain their actions to American taxpayers.”
The legislation, the Federal Reserve Transparency Act (H.R. 1207), requires the government’s oversight arm to complete a full audit of the Federal Reserve by the end of 2010.
In addition to Blunt and Paul, the bipartisan legislation has 45 cosponsors and is currently awaiting action in the House Committee on Financial Services.
- It seems to me that unlike some of Ron Paul's other proposed legislation
(none of which ever passes),
this is a pretty reasonable suggestion which mainstream politicians can
take seriously and sign on to
without feeling threatened. So I don't think Blunt is going all that
far out on a limb cosponsoring it,
and the fact that he has done so is certainly a positive sign, though
not in and of itself some sort of
- On Friday 17 April 2009 07:43:31 am Matthew Gagnon wrote:
> If you don't mind guys, I'd like to solicit your take on this.I'm all in favor of this bill. However this is not the proper list for this
> Question is this - what is your view of this move by Rep. Blunt. Is
> this a positive sign for him/the establishment, or do you treat this
> cynically as a hollow gesture? I'm curious to hear your reactions.
topic. You should repost over at RLC-Discuss list. Thanks...