Thursday, November 19, 2009
House Financial Services Committee APPROVES Bill to Audit the Fed (Rejecting Watt's Fake Alternate) and Votes to Rein In Foreign Currency Swaps
Fortunately, the House Financial Services Committee approved H.R. 1207 by 43-26, and rejected Watt's bill.
In addition, Congressmen Grayson and Paul's bill requiring written concurrence by the Treasury Secretary prior to the Federal Reserve engaging in a foreign currency swap passed the House Financial Services Committee by a voice vote today.
If you haven't already seen it, watch Congressman Grayson grill Bernanke about foreign swaps:
If you don't know what foreign currency swaps are, or why the Fed has been running amok with them, watch Congressman Grayson discuss the amendmnet: