Representative Jim McDermott was the only Democrat in the house to change his vote on the bailout from Yes to No. This made me optimistic that he would listen to his constituents again.

What risks does Bernanke take with our tax dollars? Which banks benefit from his credit programs? We deserve to know. In April we asked him for greater transparency into the Federal Reserve.

We received that support. Recently Congressman McDermott made the wonderful decision to join Ron Paul, Adam Smith (WA-9) and 120 of his congressional peers in cosponsoring the Federal Reserve Transparency Act of 2009 (HR-1207):

SECTION 1. SHORT TITLE.

This Act may be cited as the `Federal Reserve Transparency Act of 2009′.
SEC. 2. AUDIT REFORM AND TRANSPARENCY FOR THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.

(a) In General- Subsection (b) of section 714 of title 31, United States Code, is amended by striking all after `shall audit an agency’ and inserting a period.
(b) Audit- Section 714 of title 31, United States Code, is amended by adding at the end the following new subsection:
`(e) Audit and Report of the Federal Reserve System-
`(1) IN GENERAL- The audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks under subsection (b) shall be completed before the end of 2010.
`(2) REPORT-
`(A) REQUIRED- A report on the audit referred to in paragraph (1) shall be submitted by the Comptroller General to the Congress before the end of the 90-day period beginning on the date on which such audit is completed and made available to the Speaker of the House, the majority and minority leaders of the House of Representatives, the majority and minority leaders of the Senate, the Chairman and Ranking Member of the committee and each subcommittee of jurisdiction in the House of Representatives and the Senate, and any other Member of Congress who requests it.
`(B) CONTENTS- The report under subparagraph (A) shall include a detailed description of the findings and conclusion of the Comptroller General with respect to the audit that is the subject of the report, together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.’.

I know the Campaign for Liberty members in the 8th congressional district delivered many petitions to Rep. Reichert. Why is his support still missing?

And what is preventing Inslee from joining his colleagues? Luckily he is holding townhalls in Shoreline and Woodinville this weekend. We intend to ask him.

This entry was posted on 2009-5-7 at 20:42 and is filed under Politics, Seattle, Washington. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.