Tag Archives: barney frank


Audit Then End the Fed Where Things Stand HR 1207 News

Click the image to check for updates
Click the image to check for list of sponsors

H.R. 1207 is currently in the House Financial Services committee, with a hearing having been held on September 25.

No report has been issued regarding this bill on the committee’s website. The list of reports can be viewed HERE.

There is no further action noted on the current schedule, which can be seen HERE.

A fairly exhaustive search of a number of sources, including some listed here seems to reveal that H.R. 1207 is in that misty limbo land of “in committee”.

That is not a bad thing, to be sure. Frustrating? Yes.

WHEN will H.R. 1207 go to the House floor for a vote? Maybe the bill will need 400 sponsors.

It seems to me, when over half of a legislative body is listed as sponsoring a bill, that bill deserves a vote. It should trouble every American, regardless even of their knowledge on a particular piece of legislation, why that bill would not make more visible progress with such a high number of sponsors.

In any case, I’ve compiled some information on the bill, the Fed, and suggested action by H.R. 1207′s original sponsor, Rep. Ron Paul.

Govtrack.us lists 297 co-sponsors as of yesterday, October 2.

The Business Wire site reports 299 as of today, through a Campaign for Liberty report.

The New American gave a report from the September 25 Committee Hearing

And HERE is a transcript of Thomas E. Woods’ prepared testimony for that hearing. Woods is member of the Ludwig Von Mises Institute.

Minnesota Daily:

Ron Paul vs. The Federal Reserve

Article in the Washington Post on September 27:

As Suprime Lending Cris Unfolded, Watchdog Fed Didn’t Bother Barking

Federal Reserve Appeals Court Order To Disclose Loans Bloomberg, Sept. 30.

Click to see list of Congressman Sponsoring & Action Suggested
Click to see list of Congressman Sponsoring & Action Suggested

Rep. Ron Paul’s website seems to be updated regularly with the list of sponsors and also recommends a plan of action. Paul’s site lists the number of sponsors at 295, so will likely have the additional four names on Monday. The suggested actions seem well worth following.

When Dr. Paul was interviewed in early August for the documentary A New America, he was asked his opinion on the likelihood of H.R. 1207′s passage and its chances for accomplishing his goal of ultimately abolishing the Federal Reserve. He noted that it will ultimately depend upon the American people and whether or not members of Congress will manage to slip any provisions in the bill that will only resulting in continuing to shield the Fed’s activities from scrutiny.

The moral of the story here is that whether or not the effort to full examine the Fed and ultimately rid America of this entity rests on all our shoulders, and unfortunately, the character and resolve of those we have elected to office.


Chris Dodd: “I’d like to thank the Academy…”

Senate Majority Leader / Master of Ceremonies Reid, Award Recipient Sen. Dodd, and Sen. McConnell
Senate Majority Leader / Master of Ceremonies Reid, Award Recipient Sen. Dodd, and Sen. McConnell

Washington, D.C. – Post Senate Bailout Vote Award Ceremony

From the halls of the United States Senate:

In a self-congratulatory ceremony Wednesday evening, after the Senate passed the bailout bill, Master of Ceremonies, Senate Majority Leader Harry Reid, presented the much-coveted award for Best Performance as the Senate’s Most Shameless Grifter, to Senator Christopher Dodd of Connecticut. Prior to turning over the microphone to Sen. Dodd for his acceptance speech, Sen. Reid, for the umpteenth time in the last two weeks, heaped praises on his esteemed colleague, noting how important his leadership in the Senate has been over the years, and particularly in passing the bailout bill.

Award winner Dodd proudly stepped in front of the microphone, saying the bill’s passage was due to “the tone of the Senate leadership”. Dodd, not to be outdone by Leader Reid, made sure he heaped loads of praise on Reid’s leadership, which included pointing out how Reid had made the so very gracious invitation to Senators McConnell and Gregg to work on the bill. Dodd explained that “this moment wouldn’t have come” without all of this great leadership. “I’d be remiss as well if I didn’t thank other people who were critically important in this….” Our coverage ends abruptly at this point as the on-the-scene pool cameraman from whom we received our footage was suddenly struck by a mysterious wave of nausea and didn’t finishing cleaning off his shoes before Dodd stepped away from the microphone….

Following the ceremony, a reporter questioned the president of The Academy for Corruption in Government, on the likely reason for Sen. Dodd having been chosen for the award over Senator Ted Stevens of Alaska, who was widely believed to have been a shoo-in. Stevens was recently indicted by the U.S. Justice Department and is currently standing trial for not properly reporting thousands of dollars of home improvement work from a contractor.

“The reason Sen. Dodd was chosen over Sen. Stevens, is simple: Sen. Stevens was disqualified. Once he was being held accountable for his actions, he was no longer eligible for the award. In order to meet the criteria of ‘Shameless’, you can’t be held accountable and you have to appear before the press, make speeches on the Senate floor, and play, or at least create the appearance of playing, a central role in creating legislation that is somehow related to the problem caused by the original graft. Besides, while Stevens is definitely a grifter, his actions are small potatoes compared to Dodd’s. Dodd not only received preferential treatment for mortgages from failed Countrywide, but he’s ground zero in the biggest financial collapse in the history of the country. Once we found out he was the number one recipient of campaign contributions from Fannie Mae, he was the front runner,” explained the Academy president.

The Award ceremony following the House of Representatives vote on the same bill is expected to receive little attention as Representative Barney Frank of Massachusetts is expected to win in a landslide. “Of course the envelope is sealed,” grinned the Academy president, “But, the outcome isn’t likely to surprise anyone. Who can think of anyone whose further up to their neck than Barney Frank in the collapse of Fannie Mae and Freddie Mac that led to the financial meltdown? And who has anyone ever known that is more shameless, except former Pres. Clinton, and since he’s not in the running, Frank’s clearly the odds-on favorite.”

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