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H.R. 1207: Federal Reserve Transparency Act of 2009

RodISHI

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It appears that there are Democrats and Republicans in major agreement that banks need an audit. The ones disagreeing are the major banks and one major corporation which also makes loans.

Creative accounting, "guessing" and "guestimating" may become a thing of the past for bankers if the Senate does not crush this. Any senator that votes against or does not support this bill needs a new job.

H.R. 1207:
Federal Reserve Transparency Act of 2009


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Oppose
Wells Fargo
Morgan Stanley
J.P. Morgan
Deutsche Bank
Ford Motor Company
Comerica Bank


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Congressional Research Service Summary
2/26/2009--Introduced.
Federal Reserve Transparency Act of 2009 - Repeals the authority of the Comptroller General to carry out an onsite examination of an open insured bank or bank holding company only if the appropriate federal regulatory agency has consented in writing. (Retains the authority of the Comptroller General to audit a federal agency.) Directs the Comptroller General to complete, before the end of 2010, an audit of the Board of Governors of the Federal Reserve System and of the federal reserve banks, followed by a detailed report to Congress.

H.R. 1207: Federal Reserve Transparency Act of 2009 (GovTrack.us)
 
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RodISHI

RodISHI

Platinum Member
Joined
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Messages
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Not surprising to me. The Federal Reserve guardians are the bankers and are appointed by the president. But, they are chosen by the bankers. The president has to choose from the group that is made available for him to choose from. It is a rig job for bankers by bankers. I know that ten thousand dollars disappeared when Wells Fargo took over First Security in a wire transfer from Idaho to Minnesota. Now that may not be a whole lot to some people but it truly does make me wonder how many of those ten thousand or more deals went missing while WF was scooping up banks across the nation? I read a lot of complaints where peoples accounts were shorted as their banks were taken over. WF claimed they made a large fortune during those years and paid the CEO's accordingly. The Comptroller Of The Currency is also run by bankers and the bankers make up the rules. The fox is literally in the hen house and has been for quite some time.
 

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