HR 1207 Gutted by One Man: Mel Watt

Tell me how a bill that has 308 House sponsors, more than two thirds of Congress, can be totally gutted by one Congressman? That Congressman is Mel Watt who just happens to be the Congressman of the district where Bank of America's headquarters reside. Those 308 sponsors happened because of a massive grass roots movement by the people that demanded the Federal Reserve be audited. One man, owned by the banks, has gutted the bill making it totally useless. This proves once again that our government is totally criminal, and it is not representing the people in the slightest. We should not stop fighting with this setback. Keep putting the pressure on your Congressman to say you want them to support the original bill.

Message to Congress: There is only so long the people are going to use the safe avenues provided for them by the Constitution to demand Real Representation. Our Founding Fathers petitioned for redress for ten years before they declared their independence. Do you not think we the American people will not do the same?

Via Bloomberg:

Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been “gutted” while moving toward a possible vote in the Democratic-controlled House.

The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today.

“There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”..

Paul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee.

Message From Ron Paul


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