Posted by Matt Hawes on 11/20/09
Last updated 11/20/09

In addition to the stories mentioned in Gary's earlier post, also be sure to check out an article in today's Washington Post titled "Angry Congress lashes out at Obama."

The article deals mostly with the ongoing battles in Congress over financial regulatory "reform" - one of President Obama's higher priorities. (Still "more of the same.")

But also included in the article is a little write-up on a certain amendment:

Perhaps most troubling for the administration was that one of the few measures to succeed Thursday was an amendment by Rep. Ron Paul (R-Tex.) that would subject the Federal Reserve to unprecedented scrutiny....

Read the rest.

Let's be clear, though.  An audit of the Federal Reserve has nothing to do with lashing out at Obama, or lashing out at anyone for that matter.  It's about implementing historic, long overdue reforms to give the American people full information about what is being done with their money.

Update: The amendment's passage is the lead story in today's print version of The Wall Street Journal!

Posted 11/20/09 Ken from CT Milford, CT

Just heard Dr. Paul will be on CNBC's Sqauwk box @ 8:40 am Monday.. Wondering if this will be a personal visit as they had asked the last time he was on.

Posted 11/20/09 infotechsailor Broken Arrow, OK

Wall street Journal is hosting a poll on the Audit the Fed issue: as of 1340 central time, it is 94.4% in favor of an audit http://online.wsj.com/community/groups/question-day-229/topics/should-f ederal-reserve-subject-congressional

Posted 11/20/09 infotechsailor Broken Arrow, OK

Wall street Journal is hosting a poll on the Audit the Fed issue: as of 1340 central time, it is 94.4% in favor of an audit (FIXED LINK) http://bit.ly/2rFMVG

Posted 11/20/09 infotechsailor Broken Arrow, OK

OK go to wallstreet journal, click on U.S. news, look for audit the fed Vote.... Goodbye! http://bit.ly/doMVG

Posted 11/20/09 neiljones Valdosta, GA

Senator Judd Gregg (R)INO from NH issued a press release calling the amendment "political pandering". Looks like the prospect of the audit is flushing out more Fed apologists. http://www.campaignforliberty.com/blog.php?view=29043

Posted by Matt Hawes on 11/19/09
Last updated 11/19/09

Latest report is that debate on the Watt and Paul amendments should start around 12:30, with a vote likely later this afternoon.

Keep those calls up!

Update: To see a live feed, go to the Financial Services website here and click on "Watch Live Meeting Webcasts"

Update #2: Roll call votes are still expected around 4 pm.  Everything taken up to this point has been a voice vote.  Keep calling to make sure the FSC members stick with the amendment.

Update #3: Votes are currently happening on the House floor, so the reconvening of the Committee is being delayed a bit.

Update #4: The Committee is back, but will only be voting on the amendments, not the overall regulatory reform bill.

Update #5: The Paul Amendment passed!  43-26!  Thanks to everyone who made those calls!!!

Posted 11/19/09 robertwerden Liberty Hill, TX

being broadcast here http://www.c-span.org/Watch/C-SPAN3.aspx

Posted 11/19/09 Bardenio Gilbert, AZ

http://boss.streamos.com/wmedia-live/financialserv/16489/300_financialserv-qwert yuiop_070131.asx Mel is speaking about his garbage

Posted 11/19/09 MountainDoc Lewisburg, WV

http://boss.streamos.com/wmedia-live/financialserv/16489/300_financialserv-qwert yuiop_070131.asx You can watch it live there as well.

Posted 11/19/09 4RaisingAwareness St. Louis, MO

Dr. Paul is on now.

Posted 11/19/09 MountainDoc Lewisburg, WV

Wow this is heated. The Congressman are actually getting vocal with each other. This was not seen in the hearings.

Posted 11/19/09 stealthx53 Tampa, FL

http://boss.streamos.com/wmedia-live/financialserv/16489/300_financialserv-qwert yuiop_070131.asx doesnt work for me, prob the crappy company firewall. Please keep us upadates with your posts

Posted 11/19/09 TheeVagabond Abingdon, MD

Can't watch it. Stupid websense.

Posted 11/19/09 MountainDoc Lewisburg, WV

Watts, Grayson, and Paul are going back and forth. Watts is making the case that Paul and Grayson are trying to muddy the debate. Watts says that the GAO is the wrong organization. He says we won't be satisfied with the job they do and it will be no less secretive. Grayson has made the case Watt's amendment actually gives the Fed MORE secrecy. Paul is making a substitute amendment now.

Posted 11/19/09 MountainDoc Lewisburg, WV

http://financialservices.house.gov/htbin/leave_site?ln_url=http://boss.streamos. com/wmedia-live/financialserv/16489/300_financialserv-qwertyuiop_070131.asx& ln_desc=Live+Webcast&tmpl=/financialservices&wait=2 See if you can get it from there.

Posted 11/19/09 MountainDoc Lewisburg, WV

Grayson is trying to offer an amendment first.

Posted by Matt Hawes on 11/18/09

Be sure to check out this new op-ed from Congressman Ron Paul and Senator Jim DeMint in The Wall Street Journal.

For nearly a century the Federal Reserve has operated in the shadows, away from the prying eyes of Congress, journalists and the American people. Created in 1913, the Fed was given enormous responsibility to protect the value of our currency. Yet in the last 96 years the U.S. dollar has lost more than 95% of its purchasing power. The Fed's unprecedented actions over the past year in attempting to stabilize the financial system have now forced it into the spotlight, and caused millions of people around the country to question the opacity of the Fed's financial transactions....

Read the rest.

Posted 11/18/09 Jonathan Kovaciny Mankato, MN

Digg the op-ed here: http://digg.com/political_opinion/WSJ_com_Opinion_Americans_Deserve_a_Transparen t_Fed

Posted 11/18/09 BruceKoerber Cedar Rapids, IA

Either the Federal Reserve will be audited by the GAO or it will finish what it started in 1913 - destroy the dollar.

Posted 11/20/09 Colten OMalley Greenville, SC

I believe people are starting to wake up. Lets keep the movement going. Failure is not an option.

Posted by Matt Hawes on 11/17/09

ABC News is reporting that Recovery.gov, the official website set up by the government to track stimulus spending, is listing stories of jobs created and saved - in congressional districts that don't exist.

For example, the website claims that 30 jobs have been saved or created in Arizona's 15th district.  And this at a cost of $761,420 in federal funds.

Too bad Arizona only has eight districts.

According to Ed Pound, the Communications Director for the Recovery Board (which is supposed to track the spending), the government has expected all along there would be some "human error" in the reporting, especially since many people don't know which congressional district they live in.

But... isn't that your job, Mr. Pound?  To make sure that the government doesn't simply regurgitate whatever people send it, but gives an accurate reporting?

*Sigh*  And there are people who really want government in total charge of health care?

The reporting problems are not limited to Arizona, ABC News found.

In Oklahoma, recovery.gov lists more than $19 million in spending -- and 15 jobs created -- in yet more congressional districts that don't exist....

Read the rest.  (HT: Bonnie over at the YAL blog.)

Posted 11/17/09 redshirt Philadelphia, PA

Hahahahahahahaha ... here we go again. Big government blunders along without any consequences. Folks, time to bring the consequences. Vote out the crony capitalists and political entrepreneurs. Vote in the free market capitalists, fiscal conservatives, small government advocates, Constitutionalists, and libertarians. Let's vote in a real American Congress for once!

Posted 11/17/09 MPatel College Park, MD

Don't forget that this is the site that cost $9.5 million to create and $8.5 million to "maintain" through 2014. For anyone who knows anything about making/maintaining sites, this is an absurd figure as it should cost no where near that (domains cost less than $10/year and even if you hire a top firm it should not cost more than $xx,xxx (which is still a generous figure) to create the type of site.

Posted 11/17/09 Daamien Ridgefield, CT

Had this sort of disinformation been released executives at a private company they would be charged with fraud, manipulation, and/or negligence. It's also depressing that we need to rely on news organizations for fact checking when Congress should be providing oversight to the stimulus money and reporting. I will however note that some of those districts do exist, but are numbered districts for state legislatures rather than congressional districts (for example Connecticut). It seems like the different data has been mixed due to carelessness and ignorance. However, some districts listed are neither state legislative districts nor congressional districts which is just mind boggling.

Posted 11/17/09 fephisto Lafayette, IN

Reminds me of the dead voting in Chicago...

Posted 11/18/09 AAAAANDRE Van Nuys, CA

Think I should start my own personal district! ;-)

Posted 11/18/09 Planning4aCrash London, United Kingdom

"30 jobs have been saved or created in Arizona's 15th district. And this at a cost of $761,420 in federal funds." This is why on average, every dollar spent by government probably destroys $4 of productivity in the private sector, because government produces NOTHING, and does it inefficiently. Like, Spain discovered recently that every 1 government green job killed 3 jobs in the private sector! Good job feds.

Posted 11/18/09 maumoynier Santa Rosa, CA

Yeah they use such ridiculous amounts of money and create almost nothing because so much of the money has to go to their fat cat friends to do the job for twice the cost.

Posted 11/18/09 jfhobbs Spring Creek, NV

I see here in Nevada we have over 6 Million going to one fake district creating 12 jobs and about 3/4 of a Million in another fake district creating 9 jobs. Fake districts, real money which went who knows where. Question is will Harry Reid and ACORN try to register voters in these fake districts for his re-election? I wouldn't doubt it.

Posted by Matt Hawes on 11/16/09

Carrie Budoff Brown and Chris Frates over at Politico take a look today at some "land mines" in the health care bills that will enrage Obama's liberal constituency.  One would hope these details - like a public option for which only ten percent of the population would be eligible and failure to curb rising premiums - would show people how government's so-called "solutions" only make problems worse even for those with more liberal leanings.  Yet, too many still choose to believe the fairy tale that 535 people can write an insurance policy for over 300 million.

President Barack Obama and Democrats in Congress stand to reap the political rewards if they can pull off health reform, by achieving near-universal coverage, toughening regulations on private insurers and transforming the way health care is delivered.

But Democrats have glossed over nagging details of just how limited reform's reach would be for some Americans. And if voters figure it out, experts warn there could be a political backlash....

Read the rest.

Posted 11/16/09 Glenn Cumming, GA

Thanks, Matt. If this doesn't sound familiar: "Cutting costs relies on everyone owning insurance,..." "...only works if there’s a steady stream of new customers, so insurance companies can spread out the costs and trim premiums for all. That’s why there is an “individual mandate” to buy insurance, with penalties to ensure compliance." Dear young person reading this: unless you educate yourself you are about to be forced to participate in a giant Ponzi scheme, bigger than Madoff, bigger than Social Security.