Posted by eduardo89 on 03/23/09
Last updated 03/23/09

For any of those who haven't heard and are interested in helping out, this Friday we will be staging a faxbomb to congress regarding HR 1207, which will continue into the following week.

Full details here: http://www.ronpaulforums.com/showthread.php?t=185042

Useful: www.faxzero.com and www.fax.com for sending faxes online and www.faxbomb.us for details on how to send masses of faxes

Posted 03/23/09 eduardo89 Segovia, Spain

http://www.youtube.com/watch?v=yKUDGCh79Mo Video of a guy sending a fax to every single member of the Senate in 23 seconds!

Posted by eduardo89 on 03/23/09

Thank you for contacting me about the Federal Reserve Transparency Act. It is good to hear from you.

 

I agree with you that a trillion dollar bailout and a historically high deficit is a huge burden on most Americans, and even more so for our children. I stand strong to my commitment of honest and thoughtful legislation, including thorough oversight of the Federal Reserve.

 

According to the bi-partisan Congressional Research Service (CRS), current oversight measures include:

 

Aside from its appointment role, Congress exercises oversight in a variety of ways. The Federal Banking Agency Audit Act was enacted to enhance congressional oversight responsibilities. The law gave the General Accounting Office (GAO) the authority to audit the Board of Governors, the Reserve Banks and branches. Such audits are limited, however, as GAO is prohibited from auditing monetary policy operations, foreign transactions, and the FOMC operations. Congressional oversight on these matters is exercised through the requirement for reports and through semi-annual monetary policy hearings. The Federal Reserve's recent policy responses to the ongoing financial turmoil could result in additional oversight hearings during the current Congress.

 

At a recent Ways and Means Oversight Subcommittee hearing, GAO expressed concerns about their limited ability statutorily to fully monitor the numerous programs and policies put in place by the Fed in response to the economic crisis. As the senior Republican on the Oversight panel, I share those concerns and am working with my colleagues to develop an appropriate response. It's important that we vigorously watch over the Federal Reserve, the U.S. Treasury Department, the Federal Deposit Insurance Corporation and other agencies to ensure the programs being implemented to address the crisis are working.

 

Be assured, your comments will be helpful to my deliberations as I continue discussing this issue with my colleagues and if Congress considers any related legislation this year. Again, thank you for contacting me.

Sincerely,
Charles W. Boustany, Jr., M.D.
Member of Congress