Wednesday, June 03, 2009

182 cosponsors for HR 1207 - Audit the Fed!

The Campaign for Liberty has someone mentioning that HR 1207 is now at 182 cosponsors. However, I understand that no House member from CT has yet signed onto this good government bill. Why?

And I'm still waiting for a response from our Congressman, Chris Murphy, on why he has not yet become a cosponsor for transparency and good government. In the meantime, here's Murph's non-answer to my dad's request for his support in auditing the Federal Reserve:

Dear Mr. White,

Thank you for contacting me about auditing the Federal Reserve. I appreciate your correspondence and hope that you find this response helpful.

As you are aware, the Federal Reserve System operates as the central banking system for the United States. In that role, the Federal Reserve helps to control inflation by dictating the interest rate for banks borrowing money and the amount of money that is printed. Currently, the job of auditing the Federal Reserve falls under the purview of the General Accounting Office, which has performed over 100 performance audits since they were given control of the process in 1978.

In these tough economic times, it is important that our government fosters trust by operating openly and efficiently. As a member of the House Committee on Oversight and Government Reform, I have continually fought for more open and transparent government. As we work to recover from this financial crisis, I will insist on greater oversight of our fiscal policy so that we never find ourselves in this position again.

Thank you again for contacting me about this matter. I appreciate hearing from you and assure you that I will always do my best to represent the views of my constituents in Congress. In the future, please do not hesitate to call at (202) 225-4476 or contact me through my website at, where you can sign up to receive updates through MurphMail, my electronic newsletter.

Every Best Wish,

Christopher S. Murphy
Member of Congress

I like Chris. But this non-answer response is ridiculous. The fact is that there are several exemptions that apply to the Federal Reserve audits. And I suspect that is where the Fed's recently printed $2 trillion $10 trillion has gone.

Again... the Federal Reserve printed $10 trillion* and, apparently, Congressman Murphy feels that's NBD. Seriously... I don't get what he's thinking. We have a right to know where the money went.

Tim White

* Or something like that... it's all very murky.

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