The “Audit the Fed” bill – HR 1207, the Federal Reserve Transparency Act of 2009 – continues to gain steam in the House of Representatives, due primarily to the efforts of you, the grassroots!
The bill now has 124 co-sponsors as of this afternoon (5/6), including a majority of the Republican caucus as well as 11 Democrats. Three of the four members of the Kansas House delegation – Todd Tiahrt, Jerry Moran, and Lynn Jenkins – are now signed on as co-sponsors.
Unfortunately, our “distinguished” District 3 representative, Dennis Moore, isn’t one of them.
Moore, who’s Chairman of the House subcommittee on Financial Oversight and Investigations (what a joke THAT has been!), and as such, oversees not only the disbursement of TARP monies, but would also oversee any investigation of the Federal Reserve, seems to believe that the Fed is doing quite peachy, thank you very much. Or so his lack of concern for auditing their books would appear to indicate.
So much for Moore being a “conservative” “Blue Dog” who believes in fiscal transparency and accountability!
Moore was also the only member of the entire Kansas congressional delegation to not only vote for the massive TARP bailout – not once, but TWICE! – but also the so-called “stimulus” package and the 2010 omnibus budget increases, all of which are paid for almost exclusively by deficit spending. With dollars that are basically being printed out of thin air by an out-of-control, unaccountable, and unaudited Federal Reserve.
It’s time to put the pressure on Dennis Moore, starting today.
If you live in Kansas Congressional District 3, please take a few minutes to cut n’ paste the following letter, and send it to Rep. Moore by clicking on this link which will take you to his E-mail form. We need to overwhelm him with E-mails, phone calls (202-225-2865, 913-383-2013), and faxes (202-225-2807, 913-383-2088) until he realizes that his constituents mean business – and that we will remember his transgressions with OUR money.
Representative Moore,
Now that over $12 trillion in new spending has been pledged towards our financial crisis, more people than ever are concerned about where their money is going, and if it’s accomplishing anything.
But in the face of an ever-worsening recession, the Federal Reserve refuses to furnish Congress and the American people with records of how the Bank is allotting and spending trillions of bailout dollars. Shrouded in secrecy, the Federal Reserve is a danger to our political process: No one knows where our money is going or what it is doing, and Chairman Bernanke has said that efforts to disclose such information are “counterproductive.”
But that’s my money they’re using, Representative Moore! $12 trillion! And without any record of how the Federal Reserve is managing and distributing these trillions of taxpayer dollars, there is no way to know if our present course is sustainable or not.
Representatve Moore, you, sir, should know better than anyone, as Chairman of the Subcommittee on Oversight and Investigations of the House Financial Services Committee, that an unaccountable and secret process of printing and disbursing monies – monies that, ultimately, all of US will be responsible for paying back – is NOT the way to foster openness and transparency in our financial institutions. Transparency that you, as a member of the “Blue Dog” caucus, have claimed to champion throughout your Congressional career.
We must know what is happening with our money, and the Federal Reserve must come clean with the American people.
Please co-sponsor HR 1207, The Federal Reserve Transparency Act of 2009, and do everything in your power to see this bill through to a passing vote.
It’s time to carry the fight onward with renewed spirit and enthusiasm. WE ARE WINNING!
