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Forum Post: Audit the Fed Bill Passes 327 to 98

Posted 2 years ago on July 25, 2012, 3:44 p.m. EST by TrevorMnemonic (5827)
This content is user submitted and not an official statement

Audit the Fed bill passes in Congress! How many trillions do you think this one will expose?

The GAO audit exposed that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

And then they still wanted more from the taxpayers.

http://www.forbes.com/sites/traceygreenstein/2011/09/20/the-feds-16-trillion-bailouts-under-reported/

The Federal Reserve also knew about the LIBOR fraud dating back to 2007 and possibly much earlier. The Federal Reserve also helped contribute to the crisis in 2008 with reckless speculation.

CONTACT SENATE MAJORITY LEADER HARRY REID AND TELL HIM TO PUT THIS UP FOR A VOTE IN THE SENATE. Harry has vowed to not allow a vote. - http://www.reid.senate.gov/contact/index.cfm

Even though years ago Harry Reid was calling for an audit of the federal reserve. Why the change? - http://www.youtube.com/watch?v=oXOsZ7Ad7dM&feature=player_embedded

72 Comments

72 Comments


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[-] 4 points by PeterKropotkin (1050) from Oakland, CA 1 year ago

Normally, I would vehemently oppose anything Paul says but this along with his forigen policy I hole heartedly agree with.

[+] -5 points by TrevorMnemonic (5827) 1 year ago

That's why it's all about Dennis Kucinich. He and Paul agree on the Fed and foreign policy but Kucinich knows we need to raise minimum wage to a living wage and use the monetary system to create jobs by funding projects that improve society.

HR 2990, the NEED act is the next step to take. Instead of giving trillions to banks that make it all disappear let's use the monetary system to build a better society.

[-] 0 points by TrevorMnemonic (5827) 1 year ago

negative 4 points for my above comment?

hahaha so many down votes yet no one brave enough to argue against the logic?

[-] 3 points by shadz66 (18130) 2 years ago

HOLY (Sacred) COW !!! Is this for real ?!! WoW !

From your link :

  • "Sen. Bernie Sanders (I-VT) amended the Wall Street Reform law to audit the Fed, pushing the GAO to step in and take a look around. Upon hearing the announcement that the first-ever audit would take place in July, the media was bowled over and nearly every broadcast network and newspaper covered the story. However, the audit’s findings were almost completely overlooked, even with a number as high as $16 trillion staring all of us in the face."

Good ol' Bernie Sanders - the nearest thing America has to an honest politician with integrity, honour and compassion. Maybe y'all may reclaim, repair & restore your 'demoCRAZY deMOCKERYcy' yet !!

dum spiro, spero ...

[-] 1 points by ronniepaul2012 (214) 1 year ago

Yes, it was good of Bernie to take up RONNIE'S signature cause!

[-] 1 points by shadz66 (18130) 1 year ago

Maybe but Bernie Sanders is NOT a laissez-faire, devil-take-the-hindmost, Libertarian in denial of the very notion of 'Society' and our duties and responsibilities to each other. So does your man support Universal Healthcare free at the point of use, for all citizens ?! Is that a reasonable standard by which to gauge any 'civilised' country ?!! What d'you think Bernie Sanders' position is on that matter ?!!!

ad iudicium ...

[-] 2 points by john23 (-272) 1 year ago

Just to show you how disgusting this is from Reid check out was he was saying a few short years ago about the Fed:

http://www.youtube.com/watch?v=oXOsZ7Ad7dM&feature=player_embedded

Everyone needs to call and email his office.

[-] -2 points by TrevorMnemonic (5827) 1 year ago

What the fuck is this guy's deal?

Great find with the video.

[-] 1 points by john23 (-272) 1 year ago

Yeah...ridiculous. Tired of this crap on both sides of the isle....they aren't out there for our best interests...$hit drives me crazy.

[-] -2 points by hchc (3297) from Tampa, FL 1 year ago

Just another pathetic human being that hard working americans are still relying on for some strange reason.

[-] 2 points by MattLHolck (16833) from San Diego, CA 1 year ago

an audit is only as good as its conductors

will the audit be made public?

[-] 2 points by DKAtoday (34934) from Coon Rapids, MN 1 year ago

Hope they don't use Enron's auditor.

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

as long as the findings are made public and comprehensible

and I have doubts about either happen

bad guys will be named and shamed, and nothing will change

[-] 1 points by DKAtoday (34934) from Coon Rapids, MN 1 year ago

I think Enron's were made available to the public - that was why they had to be in collusion with the Auditor - charges were filed there as well. Kind of like AIG giving a triple A rating to toxic derivatives - they were guaranteeing bad product and they knew it.

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

right money floating around that was never in my hands

[-] 1 points by DKAtoday (34934) from Coon Rapids, MN 1 year ago

Smoke, mirrors and electronic bits and bytes.

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

they're gonna fix the smoke and mirrors

[-] 2 points by DKAtoday (34934) from Coon Rapids, MN 1 year ago

Glass-Stegall seems to be getting more recognition/reconsideration - finally.

I wonder how much letter writing and petition campaigns have had to do with the resurgence of political interest?

[-] 0 points by hchc (3297) from Tampa, FL 1 year ago

It's because rumors of more financial stimulus are heating up again.

Which is because the banks are blowing through money with no end in sight.

Which is because they are hedging bets that they dont have to worry about because the American people will simply bail them out.

[-] 2 points by DKAtoday (34934) from Coon Rapids, MN 1 year ago

Perhaps - but they could just talk about their new control program which never seems to have been implemented.

Instead as the public that took the time to look at the proposal was not happy with their watered down regulation - they are now ( apparently ) looking into Glass-Stegall again - which the public ( those who have spoken out anyway ) have been demanding be reinstated.

It may well be a plan to allay public concerns while they go and do nothing.

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

banks take what they can get

there's bo responsibility by banks never has been

the money the get is created by loans they make

taking money from the government simply reduces the portion everyone else has of the money

[-] -3 points by TrevorMnemonic (5827) 1 year ago

the first GAO audit exposed 16 trillion in bailouts

[-] 2 points by Nevada1 (4464) 2 years ago

Good forum post.

[-] 1 points by hchc (3297) from Tampa, FL 1 year ago

Nothing goes against Occupy more than not voting for a check up of the biggest, most corrupted banking institution the world has ever seen.

And as usual, that shmuck Harry Reid says he's not going to bring it up in the Senate.

Because they must be SO BUSY doing other things.

Can we just fire all of these clowns now?

[-] -1 points by hchc (3297) from Tampa, FL 1 year ago

Neither party wants to get into the Fed's business. They both know that is where the real power is, and if you dig around too much, bad things happen.

[-] -2 points by hchc (3297) from Tampa, FL 1 year ago

That idiot Senator Dodd is on CNBC right now talking about how great his regulation plan was. What a sell out.

The American people are going to re-elect this stooge, too, which is even more dissapointing.

[-] 3 points by VQkag2 (16478) 1 year ago

you don't know what your talkin about. He will not be re-elected. He is not running and did not run 2 years ago when he was up for re-election.

He retired. Whos the idiot now.?

[-] -3 points by hchc (3297) from Tampa, FL 1 year ago

I heard he was going to rerun. We will see.

[-] 2 points by VQkag2 (16478) 1 year ago

After the countrywide scandal? At this late date? You didn't hear anything of the kind.

LMFAO

Your just talkin outta your ass again.

[-] -3 points by hchc (3297) from Tampa, FL 1 year ago

Dude Im not kidding. I also heard that Weiner may be making a comeback too.

[-] 3 points by VQkag2 (16478) 1 year ago

Weiner dropped a trial for a mayoral run NEXT year. Shot down no money people showed interest.

Dodd is done. Weiner might come back but not for a long time and even that I doubt very much.

[-] -2 points by hchc (3297) from Tampa, FL 1 year ago

I hope he does. It would add to this current clown show tremendously. He would be like the bearded lady making her grand entrace right before the whole thing catches fire and burns down!!

[-] 3 points by VQkag2 (16478) 1 year ago

Maybe he can do a comedy team with the whore monger David Vitter, or Page predator Mark Foley,

[-] -1 points by hchc (3297) from Tampa, FL 1 year ago

They could fuckin sing duets as the stock market collapses!! Kicking their legs up in the air...haha

[-] -2 points by Porkie (-255) 1 year ago

The Dems won't allow an audit of their expenses.

[-] -2 points by TrevorMnemonic (5827) 1 year ago

“Today is a milestone for those of us who have worked for years to demand transparency and accountability at the Federal Reserve. Despite mismanagement and secrecy which has benefited the world’s largest banks at the expense of the people, today the House of Representatives finally called for a thorough accounting of the Fed.

“We now move our energies to focus on passage in the Senate, where some have said the bill faces an uphill climb. To those folks, I say that we are on the side of history and we have the American people on our side. Years ago, there were those who said that this bill would never pass. Today 327 Members of Congress showed that the American people stand for transparency and accountability. As more and more Americans learn about the Fed’s shadowy actions, the Senate will find it impossible to stand in the way of the demands of the American people.

“Transparency and accountability are coming to the Federal Reserve. After today’s vote, it’s only a matter of time,” -Congressman Dennis Kucinich

[-] -2 points by hchc (3297) from Tampa, FL 1 year ago

Who the hell are the 98 that voted against it?

[-] -3 points by TrevorMnemonic (5827) 1 year ago

Vote count - http://www.govtrack.us/congress/votes/112-2012/h513

1 republican NAY and 97 democrat NAYS

[-] 1 points by shadz66 (18130) 1 year ago

"Federal Reserve Audit Bill Overwhelmingly Passes The House",

by Jennifer Bendery :

fiat justitia ruat caelum ...

[-] 0 points by VQkag2 (16478) 1 year ago

Senate repubs forced to allow dem vote to extend middle class tax cuts.!

Only House repubs stand in the way..

Will party politics trump the interests of the people?

[-] 2 points by JoeTheFarmer (2654) 1 year ago

Let's stay on topic.

98 Dems voted against the audit of the agency that controls the money supply.

[-] 0 points by VQkag2 (16478) 1 year ago

So what? Who doesn't know there is massive corruption in the fed actions. And who doesn't know it benefits the conservative banksters.

You gotta be a special kinda moron to think that you repubs ain't gonna be found to be stealing from us with the fed just like repubs screwed us with LIBOR, and lust like they did with the credit default swaps in 2008 and just like they did with the Savings and loans 25 years ago.

Look at history. It's always the 1% plutocrats at the center of the massive financial scandals. And it's always your repubs defending, and serving the 1% plutocrats.

So lets have an audit. I welcome it.

[-] -3 points by TrevorMnemonic (5827) 1 year ago

That's a different topic. We're talking about the audit of the federal reserve.

Something both side of the aisle should support.

The GAO audit exposed that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

"The Federal Reserve also knew about the LIBOR fraud dating back to 2007 and possibly much earlier. The Federal Reserve also helped contribute to the crisis in 2008 with reckless speculation." -Dennis Kucinich

This is a step toward further exposing the plutos and getting a monetary system that benefits the middle class. Once everyone knows how fucked the fed has been acting... you can't stop an idea who's time has come.

HR 2990 or legislation like it is the step to take after the audit. It's time to use our monetary system to create jobs and build a better society.

[-] 5 points by VQkag2 (16478) 1 year ago

Great. lets do the audit. Guess what it will uncover more 1% plutocrats in bed with repubs.

Lets have at it. I welcome it. I know there is crazy corruption in the fed. I also know an audit ain't gonna happen. The 1% plutocat powers that be will resist it.

But I support it. WooHoo! Lets go.

[-] -3 points by TrevorMnemonic (5827) 1 year ago

I'm glad to see you so enthusiastic about the audit. It was outrageous how many trillions in secrecy the first partial audit exposed. TRILLIONS... and that same year they still wanted tax payer dollars too? Outrageous. Where did the trillions go after they saw the hands of the corps and the banks? Where did the trillions go in the first place?

The plutos are going down. I can smell it. We're still years away... but we're getting closer. More people are becoming aware of the plutos.

Sadly the audit might not happen because of Senate Leader Harry Reid won't allow it on the senate floor...

So who's paying him? Because years ago he was the guy saying that we need to audit the fed and was the guy putting up legislation to do it.

So why did he change his mind?

Call his office today. I shared a link to his .gov page in my post.

[-] 4 points by VQkag2 (16478) 1 year ago

Riiiight. a liittle anti dem partisanship. I get it no problem. Protest harry reid. Call his office! Sure end the fed. Audit the fed.

I'd love to convict some plutos. I believe in fact we have enough for that now. So we should call the white house, And the congressional commitees that have oversight powers.

No doubt. Now that we're done with that.

Lets congratulate Harry Reid for smokin the Senate repubs and gettin the middle class tax extensions through. Well done. Now the House repubs stand in the way. Lets call them up. No.?

And when we smoke the House repubs lets pressure all of them to pass more middle class tax cuts and a new 90% tax rate on the plutos you claim you can't to see "go down".

Yes? We together?

[-] -3 points by TrevorMnemonic (5827) 1 year ago

it's not anti-dem partisanship. It's the truth. There's a difference between a a real D like Dennis Kucinich and a D like Harry Reid.

Harry Reid used to be Mr. Audit the Fed and put forth legislation himself back in the day. And that was great. But now as the Senate Majority leader he has openly stated he has no intention of putting it up for a vote on the house floor.

People should call him. His decision makes no sense. I called his office yesterday about it. I politely told his office he should put it up for a vote. If he changes his mind, I will have no problem with him. Until then he is protecting the bankster from a real audit that will expose TRILLIONS and TRILLIONS in money mismanagement that profited the 1% while increasing inflation that made the 99%'s money worth less than it used to be.

I don't care what he's done in the past. What he's doing now is wrong and it goes against the vote of the people who elected 327 representatives that passed this bill with bipartisan support in the House.

There is no reason not to vote on this bill. If he really opposes it he should use democracy and put it up for a vote and explain his case. Until then he is an asshole for his stance on this bill.

This bill will expose the 1% frauds for who they are. As well as push people to vote for progressives that want to change the monetary system to benefit the 99% and not just the 1%.

HR 2990 is the next step. build our cities and create jobs. That is what our monetary policy should be about. This audit is the step to that becoming a reality.

[-] 4 points by VQkag2 (16478) 1 year ago

That bill (hr 2990) has no chance of passage. It was introduced, and went no where last session (hr 6550) because of repubs. Seems to be preoccupied with balanced budget/Social security/money supply issues and misleading us to believe it's about jobs. Lets pass infrastructure bank, and Pres Obama other Jobs bills, Lets leave Social Security alone (except to make upper income plutos pay more into it) And lets not cut services for the middle class in the name of balanced budget. Lets create 90%v tax rate for millionaires.

And what are you talkin about "increasing inflation"? are you joking?

Anyway the fin reform bill the dems passed included Kucinich's 1st fed audit language, We can start there 'cause we got that past the pro plutocrat repubs. And we got plentyelse to pursue repub protected plutos if we want to go after.

Lets alos congratulate the Senate dems (Reid) for smokin those repub pluto tools and forced a successful vote on middle class tax cut retention. Without the wealthy tax cut retention repubs want.

Support progress when it comes. Support those pushing progress.

[-] 0 points by LetsGetReal (1420) from Grants, NM 1 year ago

I'll contact Reid, but what else is helpful? How does Reid decide what gets on the agenda? ( I mean other than the obvious $)

[-] -3 points by TrevorMnemonic (5827) 1 year ago

he's the senate majority leader and has a lot of say.

His office told me "he will do every thing he can to be sure this bill will not see a vote on the senate floor. Senator Reid thinks the bill is politicized."

Then I asked "why did he himself push for an audit years ago?"

She then told me she's not allowed to speak on behalf of the Senator unless she has statements from the senator to give out on issues.

[-] 1 points by LetsGetReal (1420) from Grants, NM 1 year ago

Wow, that's pretty harsh. Have you contacted your senators about it? I'll think I'll call mine (both Dems) tomorrow.

[-] -3 points by TrevorMnemonic (5827) 1 year ago

Just went through Harry Reid's .gov page and found this

"My vote to confirm Ben Bernanke for a second term as Chairman of the Federal Reserve is no different."

That explains it. His guy is the frontman. Bush liked Bernanke. It's where he got his start.

[-] 0 points by LetsGetReal (1420) from Grants, NM 1 year ago

What page is that on? I don't understand.

[-] -3 points by TrevorMnemonic (5827) 1 year ago

I just went to his .gov site and searched "federal reserve"

He talks up Bush's Bernanke like he's a saint.

http://www.reid.senate.gov/newsroom/pr_012210_bernankestatement.cfm

LOL Harry also said "The Senate will continue to demand visible and responsible results for the people we represent."

Now he's saying no transparency by refusing the bill.

what maroon

[-] 0 points by LetsGetReal (1420) from Grants, NM 1 year ago

Well, if Reid represents the banksters, the Fed has delivered visible results for them.

[-] -2 points by hchc (3297) from Tampa, FL 1 year ago

Another example of party politics trumping the interest of the people

[-] 2 points by VQkag2 (16478) 1 year ago

Senate repubs forced to allow dem vote to extend middle class tax cuts.!

Only House repubs stand in the way..

Will party politics trump the interests of the people?

[-] 0 points by hchc (3297) from Tampa, FL 1 year ago

They always do. What else is new?

[-] -2 points by VQkag2 (16478) 1 year ago

nothing new. Repubs stand with the 1%. Dems stand with middle class.

Take a stand or stand aside.

[-] 4 points by MattLHolck (16833) from San Diego, CA 1 year ago

and the middle class is shrinking

and no one speaks for the poor majority

[-] 1 points by VQkag2 (16478) 1 year ago

Those poor poor people. We gotta get them into the middle class.

[-] 5 points by MattLHolck (16833) from San Diego, CA 1 year ago

so they can all pay loan interest instead of rent

[-] 3 points by JoeTheFarmer (2654) 1 year ago

Let's stay on topic.

98 Dems voted against the audit of the agency that controls the money supply.

[-] -1 points by VQkag2 (16478) 1 year ago

So what! Whats gonna happen now? What are they gonna find?. Who is gonna be found guilty or corrupt?

It's gonna be some conservative 1% plutocrat bankster. So lets have at it.

No prob. Whatta you kiddin'? The repubs voted for it? Then it must be a smokescreen they would never facilitate a mechanism to catch one of there own.

But ok one house voted to audit the fed big deal. So what.? woo hoo!

Whatta joke.

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

we need to pass a study of the audit

[-] 1 points by hchc (3297) from Tampa, FL 1 year ago

They stand with the people who finance their campaigns, same shit, different year.

http://www.miamiherald.com/2012/07/09/2888901/president-barack-obama-asks-congress.html

[-] 0 points by VQkag2 (16478) 1 year ago

LMFAO.

House repubs stand in the way of middle class tax cuts. They have already said they won;t do it unless we give their 1% plutocrats puppet masters tax cuts too.

Obscene.

Elect progressives, Vote out pro plutocrat republicans

[-] -2 points by TrevorMnemonic (5827) 2 years ago

A small victory took place today!

http://www.youtube.com/watch?v=Np4-4OcZeEs

[-] 1 points by shadz66 (18130) 2 years ago

Naah buddy ! If it's a Class WAR as perpetrated by The 0.01% (as confirmed by Warren Buffet, no less) then this isn't even a battle won but it is definitely potentially a strategic game changer in the long term.

However - I DO get your enthusiasm and ardently hope that this is the 'thin end of the wedge'.

per ardua ad astra ...

[-] -1 points by TrevorMnemonic (5827) 2 years ago

hence the phrase "small victory"

this is a step forward in the long uphill walk

[-] 2 points by shadz66 (18130) 2 years ago

Yes mate ! I concur !! Onwards & Upwards !!!

per aspera ad astra ...