Posted by John Tate on 11/19/09 11:49 PM   [Newer: Operation Health Freedom - Ron Paul (and information on tonight's expected cloture vote)] [Older: Critical Vote on Audit the Fed This Thursday!]

Thanks to your quick action in contacting Congress, the House Financial Services Committee earlier today rejected Representative Mel Watt's attempt to hijack Audit the Fed by voting 43-26 to pass Ron Paul's amendment to the financial regulatory reform bill.

Dr. Paul called me right after the vote to personally express his thanks to C4L members for all of your efforts!

It is an incredible testament to the growing power of the liberty movement that we were able to get such an audit passed by a major House committee, but this is by no means the end of our fight.

Financial Services leadership has seemed determined for several months that if an audit of the Fed were to get out of Committee, it should be attached to an overall regulatory reform package that would actually increase the powers of the Fed to interfere in our economy.

Congressman Paul's amendment gives the Government Accountability Office power to conduct a thorough audit of the Fed's entire $2 trillion balance sheet and replaces the Watt language that would have further restricted GAO audits of the Federal Reserve.

While this is a victory over an attempted hijacking of our cause, the audit authority is still being rolled into the Financial Stability Improvement Act, a bill that Campaign for Liberty will oppose.

This Act will be voted on as soon as the Committee returns from its Thanksgiving break, and we will then know if it will move to the floor.

And it's already becoming clear that Ron Paul's amendment may face challenges on the House floor.

Now is the time to turn up the pressure!

Keep contacting Congress and tell your representative that before Congress debates over giving the Fed any new powers, we need to know what they're doing with the ones they already have!

Urge your representative to support a standalone, up or down vote on Audit the Fed, H.R. 1207.

We've put too much work into this effort to see an audit bogged down in yet another Washington bureaucratic nightmare.

Make no mistake, though, the victory today proved we can get the votes to pass the thorough, historic audit we've been fighting for this past year. We have put the Federal Reserve on notice that the freedom movement is serious about reclaiming our country and that it is here to stay.

Thanks for all you do for the cause of freedom. Now, let's finish this fight!

Posted 11/20/09 12:09 AM jayhawk6677 Houston, TX

Beautiful. Just beautiful.

Posted 11/20/09 12:10 AM bickelj Atlanta, GA

Thank God. Thank you, Dr. Paul, Grayson and the 41 others. Monumental success. Now comes an even bigger challenge.

Posted 11/20/09 12:26 AM friend of liberty Cherokee, Non

dont mind, but this is very complicated. if any1 can explain the process, it wd b nice. now what they voted on was whether paul substitute shd b adopted or not - result was 43-26. then they are about to vote, whether the whole amendment shd b there or not ? whats going on ? thanks and this is certainly not for the standalone HR 1207 bill, right ? whats the progress on that ?

Posted 11/20/09 12:27 AM walterstanley Livermore, CA

This is great news!

Posted 11/20/09 12:35 AM Matt Hawes Springfield, VA

Friend of Liberty, It has been a little confusing!! - Barney Frank has been trying to get a regulatory "reform" package through the Committee. - Watt submitted an amendment to that bill that, while claiming to be the thorough amendment we all wanted, actually put more restrictions on the GAO and kept current limits in place. - Dr. Paul offered an amendment to replace Watt's language with a real, thorough audit of the Fed's entire balance sheet. - When the committee voted to pass Dr. Paul's amendment today, they were voting both to replace Watt's amendment with the language and to attach it to the regulatory reform bill. - The amendment is separate from 1207, and it is now officially a part of the regulatory reform bill. Hope this helps! Matt

Posted 11/20/09 12:50 AM mulishatrooper89 whittier, CA

this is great. but whats up with the Reuters editors? almost 2/3's! of congress support this bill! that's a big misquote! and what's this about Watt promoting a "compromise amendment" that would have drawn a clear line at leaving monetary policy alone!? Are they insane!? This is RON PAUL'S BILL! NOT WATTS!!! Dr. Paul had already included the language in question when the amendment passed! That's why it PASSED! At least the media can do here is actually report this accurately! OR GIVE ME THE JOB SHEESH!

Posted 11/20/09 12:56 AM liberty75 Pembroke Pines, FL

Finally, a little bit of good news for a change. But it's still a tough fight ahead and we must keep up the pressure!

Posted 11/20/09 01:01 AM robertwerden Liberty Hill, TX

The real challenge comes when the GAO performs the audit and they are stone walled by the FED. No doubt the people at the GAO are not beyond corruption and the coffers at the FED are so large they could bribe just about anyone. I would bet the first bribery case though will instantly close the FED down for good.

Posted 11/20/09 01:42 AM Liberty for Life Lake Forest, CA

Our fights are plentiful! But to the end the wise men and women who represents its people best, WILL WIN over this machine. Let there be "NO FLAWS" in our sytem of Representives! Another great job Dr. Paul! We should have known you years ago to fight this GOOD fight! You sir, are the heartbeats of the American people. Stay healthy, WE NEED YOU and other WISE MEN like you... For Liberty, always...

Posted 11/20/09 02:02 AM Jefferson Davis, CA

I may be studying all night for an economics midterm, but tomorrow I will rest easy with the knowledge that the ruling class may finally have to answer for their corruption.

Posted 11/20/09 02:12 AM Pontius San Diego, CA

Can C4L please post a list of everyone who voted to support the Paul amendment? I think some thank you letters are in order. It's important to let members of congress know we appreciate their help in this issue. Thanks.

Posted 11/20/09 07:02 AM JoeCorrao Brooklyn, NY

Great stuff!!!! 1st hurdle cleared!

Posted 11/20/09 08:13 AM Our Inherent Rights Horsham, PA

Awesome news!!!! Well done everyone and well put Jefferson!

Posted 11/20/09 08:48 AM aaronc Fall River, MA

AL-06 Rep. Spencer Bachus yay CA-12 Rep. Jackie Speier yay CA-22 Rep. Kevin McCarthy yay CA-27 Rep. Brad Sherman yay CA-35 Rep. Maxine Waters nay CA-40 Rep. Edward R. Royce yay CA-42 Rep. Gary G. Miller nay CA-43 Rep. Joe Baca nay CA-48 Rep. John Campbell yay CO-07 Rep. Ed Perlmutter yay CT-04 Rep. Jim Himes nay DE-01 Rep. Michael N. Castle yay FL-08 Rep. Alan Grayson yay FL-12 Rep. Adam Putnam yay FL-15 Rep. Bill Posey yay FL-22 Rep. Ron Klein nay FL-24 Rep. Suzanne Kosmas GA-06 Rep. Tom Price yay GA-13 Rep. David Scott yay ID-01 Rep. Walt Minnick yay IL-04 Rep. Luis V. Gutierrez nay IL-08 Rep. Melissa L. Bean nay IL-13 Rep. Judy Biggert yay IL-14 Rep. Bill Foster nay IL-16 Rep. Donald A. Manzullo yay IN-02 Rep. Joe Donnelly nay IN-07 Rep. Andre Carson nay KS-02 Rep. Lynn Jenkins yay KS-03 Rep. Dennis Moore nay MA-04 Rep. Barney Frank nay MA-08 Rep. Michael E. Capuano nay MA-09 Rep. Stephen F. Lynch nay MI-09 Rep. Gary Peters yay MI-11 Rep. Thaddeus McCotter yay MN-03 Rep. Erik Paulsen yay MN-05 Rep. Keith Ellison nay MN-06 Rep. Michele Bachmann yay MO-01 Rep. William Lacy Clay yay MO-05 Rep. Emanuel Cleaver nay MS-01 Rep. Travis Childers yay NC-03 Rep. Walter B. Jones yay NC-10 Rep. Patrick T. McHenry yay NC-12 Rep. Melvin L. Watt nay NC-13 Rep. Brad Miller nay NH-02 Rep. Paul W. Hodes yay NJ-03 Rep. John Adler yay NJ-05 Rep. Scott Garrett yay NJ-07 Rep. Leonard Lance yay NY-03 Rep. Peter King yay NY-04 Rep. Carolyn McCarthy yay NY-05 Rep. Gary L. Ackerman nay NY-06 Rep. Gregory W. Meeks nay NY-12 Rep. Nydia M. Velázquez yay NY-14 Rep. Carolyn B. Maloney nay NY-25 Rep. Dan Maffei yay NY-26 Rep. Christopher Lee yay OH-01 Rep. Steve Driehaus yay OH-06 Rep. Charles Wilson nay OH-15 Rep. Mary Jo Kilroy nay OK-03 Rep. Frank D. Lucas yay PA-06 Rep. Jim Gerlach yay PA-11 Rep. Paul E. Kanjorski SC-03 Rep. J. Gresham Barrett yay TX-05 Rep. Jeb Hensarling yay TX-09 Rep. Al Green nay TX-14 Rep. Ron Paul yay TX-15 Rep. Rubén Hinojosa yay TX-19 Rep. Randy Neugebauer yay TX-24 Rep. Kenny Marchant yay WI-04 Rep. Gwen Moore nay WV-02 Rep. Shelley Moore Capito nay

Posted 11/20/09 08:53 AM MarilyninLakeJackson Lake Jackson, TX

Posted 11/20/09 10:03 AM Al Langhans Elizabethville, PA

Was PA district 11 a no vote?

Posted 11/20/09 10:27 AM Ken from CT Milford, CT

Story at MarketWatch http://www.marketwatch.com/story/panel-votes-to-audit-feds-balance- sheet-2009-11-19

Posted 11/20/09 10:41 AM Bob Therina Saint Louis, MO

For Ken's link above you have to remove the space between the hyphen and the word "sheet," if you copy and paste.

Posted 11/20/09 11:12 AM Paul S. Brighton, MI

Passing as an amendment with 62% of the vote makes it viable as a stand alone or as an amendment to the financial regulatory nonsense bill. This was partly a litmus test by party leaders to identify the less than sheepish. This is a note to all the HR-1207 co-sponsors thanking them for having the savvy to recognize a popular movement that is sound and principled in its desire to audit the Fed. The threats issued by some about the damage this bill will cause to the economy are going to happen anyway, pass or fail. Next summer (in 180 days) when the dirt comes out will make Audit Co-sponsors and supporters into heros just in time for the 2010 election.

Posted 11/20/09 11:27 AM Papaneuf Painted Post, NY

Maybe...just maybe...God's light will shine into the recesses of the Federal Reserve. Watching the videos clearly revealed that there are many snakes lying in Ron Paul's path. This nation is fortunate to have men like Ron Paul and Alan Grayson standing up for truth.

Posted 11/20/09 11:30 AM Papaneuf Painted Post, NY

Yep..Pa district 11 WAS a no vote.

Posted 11/20/09 2:06 PM Bob Therina Saint Louis, MO

For Ken's link above you have to remove the space between the hyphen and the word "sheet," if you copy and paste.

Posted 11/20/09 9:52 PM friend of liberty Cherokee, Non

@ Matt thanks for clarifying. so how about the standalone HR 1207 ? whats the progress on that ? i think they had a hearing on it, last mth, is it up for vote or debate anytime soon ?

Posted 11/21/09 12:02 PM AuthenticAuthor Canutillo, TX

And of course, the major media outlets are already spouting garble and lies about the amendment. If you thought Ron's campaign coverage was bad, just wait and see what happens next with this bill.