So That This Never Happens Again...
END THE FED!
Just as the Fed is being called into question with the HR 1207 juggernaut, President Obama is proposing to grant it vast new powers over the economy. Of course they tell us this is necessary In order to keep us safe and so that another financial catastrophe such as the one we recently experienced “never happens again”.
On Thursday, July 9th the members of the House Subcommittee on Domestic Monetary Policy and Technology will meet to consider this proposal.
On Wednesday, July 8th the members of the subcommittee must hear from all who oppose the expansion of the Fed’s powers and favor that it be audited and then ENDED!
Subcommittee on Domestic Monetary Policy and Technology
Majority Members (Democrats)
Mel Watt (D-NC) [Chairman]
Carolyn B. Maloney (D-NY)
Gregory W. Meeks (D-NY)
William Lacy Clay, Jr. (D-MO)
Brad Sherman (D-CA)
Al Green (D-TX)
Emanuel Cleaver, II (D-MO)
Keith Ellison (D-MN)
John Adler (D-NJ)
Suzanne Kosmas (D-FL)
Minority Members (Republicans)
Ron Paul (R-TX) [Ranking Member]
Mike Castle (R-DE)
Frank Lucas (R-OK)
Jim Gerlach (R-PA)
Tom Price (R-GA)
Bill Posey (R-FL)
Leonard Lance (R-NJ)
And don’t forget...Monday July 6th is Melt the Senate Switchboard Day for S.604! See http://endthefedusa.ning.com/events/audit-the-fed-melt-the-senate
Subject: FW: Subcommittee to Examine Federal Reserve's Role in Monetary Policy and Risk Regulation
June 30, 2009
Subcommittee to Examine Federal Reserve’s Role in Monetary Policy and Risk Regulation
Washington, DC — U.S. Representative Melvin L. Watt (D-NC), Chairman of the Subcommittee on Domestic Monetary Policy and Technology, today announced a hearing to consider changes recently proposed by the Administration to the Federal Reserve’s mission, specifically expanding the Federal Reserve’s role to that of systemic risk regulator, and what effect these proposed changes could have on the Fed’s traditional independent role in setting and carrying out monetary policy.
Congressman Watt said, “As Congress and President Obama work to enact financial regulatory reform, it is important to preserve the Fed’s critically important monetary policy roles. We need to get a clear handle on the extent to which the Administration’s proposals could compromise or interfere with what the Fed already is charged to do. I look forward to learning more about how and whether the Fed can effectively carry out additional regulatory responsibilities and its current role.”
Who: The Financial Services Subcommittee on Domestic Monetary Policy and Technology
What: Hearing: “Regulatory Restructuring: Balancing the Independence of the Federal Reserve in Monetary Policy with Systemic Risk Regulation” When: Thursday, July 9, 2009 2:00 p.m.
Where: 2128 Rayburn House Office Building
Witnesses to be announced.