Paul-Grayson “Audit The Fed” Bill Passes Financial Services Committee

[FLAprogressive]

Today, the House Financial Services Committee passed an amendment to their financial regulatory reform bill that would mandate an audit of the Federal Reserve. The Paul-Grayson amendment, named for its chief sponsors, Reps. Ron Paul and Alan Grayson, passed the committee by a count of 43-26.

Supporters of the audit the Fed effort were concerned that a competing amendment by Mel Watt would gut whatever Paul-Grayson added in transparency to the Fed. After heated discussion today inside the committee, it appears that Paul and Grayson have won this round.

*snip*

…It should be noted that an overall final vote on financial regulatory reform from the Committee, expected today, was blocked, chiefly by members of the Congressional Black Caucus, panicked about having to take the vote at a time of double-digit unemployment.

http://news.firedoglake.com/2009/11/19/paul-grayson-audit-the-fed-bill-passes-financial-services-committee/

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It seems to me that the CBC has been bought and paid for....do they really fight for African Americans anymore or do they fight for banks?

[FLAprogressive]

1. self-kick -- if any change will happen this year this might be it

[FiveGoodMen]

2. K&R

Good news.

[EmeraldCityGrl]

3. K&R This is very exciting!

[glitch]

4. Most excellent, K & R nt

[Owl]

5. What the heck is the CBC's beef with this?

[FLAprogressive]

6. like I said, I think they've been bought and paid for.