[StBernard] Fighting for the Original, Complete Audit of the Federal Reserve

Westley Annis Westley at da-parish.com
Fri May 7 23:19:36 EDT 2010


Dear Friend,



As you may know, I and 15 of my Senate colleagues were working with Sen.
Bernie Sanders (I-VT) on an amendment to the Financial Regulations bill that
would direct 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.



However, as you may know, Sen. Sanders has backtracked and severely weakened
the movement in the U.S. Senate to audit the fed.



Last night, in a back room deal with the help of the Federal Reserve itself,
Sen. Sanders reworked his amendment to drop the audit language that
Congressman Ron Paul and the rest of us have supported for so long.



Like you, I believe the bailouts and massive spending in Washington have
gotten out of control. The Federal Reserve is spending trillions of dollars
in taxpayer money with virtually no accountability. The American people
deserve to know more.



As soon as I found out that this was happening, I immediately ran to the
Senate floor to ensure that the Senate would have an up-or-down vote on the
original complete Fed audit language that Congressman Ron Paul was
successful at adding to the House Regulatory Reform bill with bipartisan
support. A vote on my amendment to have a complete audit of the Fed should
happen next week. We must defeat Sen. Sanders' watered down amendment and
pass the true audit.



Given the dramatic power grab of the Federal Reserve over the last two
years, the American people deserve no less than to see who stands with them
and who stands with the big banks and foreign governments who owe their
livelihood to the Fed.



We have seen an unprecedented level of spending on federal bailouts and a
dramatic increase in our debt, and that is why I opposed the Fannie Mae and
Freddie Mac bailout, the $700 billion Wall Street bailout, and the auto
industry bailout. In the Senate and on the Senate Banking Committee, I will
continue to be an outspoken advocate for taxpayers and fight these widening
bailouts. Rest assured that I will continue to demand more accountability
and transparency in how our taxpayer dollars are spent.

Sincerely,
David Vitter
U.S. Senator





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