Associated Press
WASHINGTON — The House passed the most ambitious restructuring of federal financial regulations since the New Deal on Friday, aiming to head off any replay of last year’s Wall Street failures that plunged the nation deep into recession.
The sprawling legislation would give the government new powers to break up companies that threaten the economy, create a new agency to oversee consumer banking transactions and shine a light into shadow financial markets that have escaped the oversight of regulators.
The vote was a party-line 223-202. No Republicans voted for the bill; 27 Democrats voted against it.
The Boston Globe said in their article that it would “crack down on the types of Wall Street practices that caused last year’s economic meltdown.” You (Michael Kranish), my friend, are retarded. This legislation gives more power to the Federal Reserve, you know the institution that actually caused the mess. Oh and just to vent some more, Rep. John Tierney (Democrat – District 6) voted in favor of it. Stooge.
Jim DeMint’s Website
WASHINGTON, D.C. – Today, U.S. Senator Jim DeMint (R-South Carolina), chairman of the Senate Steering Committee, announced this morning that he will oppose the nomination of Ben Bernanke to serve a second term as the chairman of the Federal Reserve Board. Senator DeMint made the announcement after Bernanke’s confirmation hearing before the Senate Banking Committee, and pledged to object to floor consideration of the nomination until the Senate votes on S. 604, the Federal Reserve Sunshine Act of 2009.
“Ben Bernanke is an intelligent and well-intended public servant, but the fact is the Fed has failed the American people during his tenure as chairman of the Federal Reserve Board and I cannot support his nomination for a second term,” said Senator DeMint. “Americans want a new Fed chairman who is willing to provide transparency into the Fed’s actions, who is willing to accept responsibility for the Fed’s mistakes, and who is willing to support true monetary reform that guarantees the soundness of our money.
Bernanke is constantly ignoring sound money. For that, he should not be get another term.
1. Foreign Policy – End war in Iraq/stop being imperialistic
2. Privacy – Repeal PATRIOT Act; revision of FISA; end torture
3. National Deficit – Reckless government adventurism
4. Federal Reserve – Out of control; not controlled by Congress
WorldNetDaily
Less than 24 hours after WND reported a proposal from U.S. Rep. Ron Paul, R-Texas, to audit the Federal Reserve was approaching majority support in the U.S. House, he is confirming the plan has reached that “crucial benchmark.”
“The tremendous grass-roots and bipartisan support in Congress for H.R. 1207 is an indicator of how mainstream America is fed up with Fed secrecy,” Paul said shortly after U.S. Rep Dennis Kucinich, D-Ohio, became the 218th cosponsor, giving the plan, technically, majority support in the 435-member House.
“I look forward to this issue receiving greater public exposure,” Paul said.
Description:
“To amend title 31, United States Code, to reform the manner in which the Board of Governors of the FederalReserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.”
Current Status: Referred to the House Committee on Financial Services.
John Tierney (6th District Massachusetts): July 20, 2009 became a co-sponsor.
Kids Like You & Me (KLYAM) 