Synthaholic
Diamond Member
From Grayson's latest campaign email:
This seems to be the Paulette's #1 issue: auditing the Fed. They should be supporting Grayson.
Let me tell you about my successful effort to audit the Federal Reserve. Wall Street didn’t like losing to me on that one.
Yesterday, I explained that the Democratic Primary for the U.S. Senate this year represents a “twofer” for Wall Street: Wall Street can try to elect its errand boy, Patrick Murphy, at the same time as it goes medieval on me for passing my “Pay for Performance Act,” which prevented Wall Street from pocketing federal bailout money.
But there’s more.
In 2009, in the midst of bailout mania, I powered the 30-year-old effort to audit the Federal Reserve, which controls our money supply. The Federal Reserve had never had any independent audit in its 100-year history. Rep. Ron Paul (R-TX) had first sought an audit when I was still in graduate school, but his bill hadn’t even gotten a hearing, much less a vote. Yet “the Fed” clearly was taking an active role in the bailouts – it’s just that no one knew what that role was.
I patiently signed up more than 100 Democratic Members of Congress, one by one, to cosponsor the “Audit the Fed” bill. Then I steered it through the Financial Services Committee, and on the Floor of the House. Then I rescued it from a Wall Street counterattack in the Dodd-Frank Conference Committee.
Secretary Tim Geithner, Wall Street’s man in the Obama Administration, said that his number-one priority in Dodd-Frank was not to save the world economy, but rather to strike that audit from the bill. But I won. And Wall Street lost.
The audit found $26 trillion in secret bailouts to financial institutions. That’s $26,000,000,000,000.00. You can read about it here.
Wall Street was very unhappy. Five years later, they remain unhappy. That’s one reason why they’ve given my primary opponent more sewer money than any other House Democrat.
Yesterday, I explained that the Democratic Primary for the U.S. Senate this year represents a “twofer” for Wall Street: Wall Street can try to elect its errand boy, Patrick Murphy, at the same time as it goes medieval on me for passing my “Pay for Performance Act,” which prevented Wall Street from pocketing federal bailout money.
But there’s more.
In 2009, in the midst of bailout mania, I powered the 30-year-old effort to audit the Federal Reserve, which controls our money supply. The Federal Reserve had never had any independent audit in its 100-year history. Rep. Ron Paul (R-TX) had first sought an audit when I was still in graduate school, but his bill hadn’t even gotten a hearing, much less a vote. Yet “the Fed” clearly was taking an active role in the bailouts – it’s just that no one knew what that role was.
I patiently signed up more than 100 Democratic Members of Congress, one by one, to cosponsor the “Audit the Fed” bill. Then I steered it through the Financial Services Committee, and on the Floor of the House. Then I rescued it from a Wall Street counterattack in the Dodd-Frank Conference Committee.
Secretary Tim Geithner, Wall Street’s man in the Obama Administration, said that his number-one priority in Dodd-Frank was not to save the world economy, but rather to strike that audit from the bill. But I won. And Wall Street lost.
The audit found $26 trillion in secret bailouts to financial institutions. That’s $26,000,000,000,000.00. You can read about it here.
Wall Street was very unhappy. Five years later, they remain unhappy. That’s one reason why they’ve given my primary opponent more sewer money than any other House Democrat.
This seems to be the Paulette's #1 issue: auditing the Fed. They should be supporting Grayson.
