Free Republic

WASHINGTON (MarketWatch) -- House Financial Services Committee Chairman Barney Frank, D-Mass., on Friday backed a bill to require a broad congressional auditing of how the Federal Reserve carries out its monetary policy, including how much it has lent and will lend to specific banks as part of its bank bailout program. "We are serious about some legislation in this regard," said Frank at a hearing on the bill. "However, some time needs to elapse before certain disclosures take place...we are working together; we want there to be publicity, but we don't want there to be a market effect in the...

Former Alaska Gov. Sarah Palin fired a shot at the Federal Reserve in her coming-out speech in Hong Kong today, blaming the central bank for the current crisis and disagreeing with the idea that the Fed should have a greater role in preventing the next crisis. It was an echo of fellow Republican and Texas congressman Ron Paul, who has led the charge in Congress to perform an audit of the Federal Reserve with an eye to eventually eliminating it. “How can we discuss reform without addressing the government policies at the root of the problems? The root of the...

After we broke through the 218 cosponsor threshold on H.R. 1207, I didn't think today could get any better. However, we have even more news. Sen. Jim DeMint (R-SC) today became the first cosponsor of S 604, H.R. 1207's companion legislation. We still have a long way to go before we pass real legislation to Audit the Fed, but this is yet another major step toward our ultimate goal. Sen. DeMint is highly respected and one of the most principled conservatives in Washington. Bernie Sanders (I-VT), 604's lead sponsor, is a firebrand Independent progressive. To see these two guys on...

After we broke through the 218 cosponsor threshold on H.R. 1207, I didn't think today could get any better. However, we have even more news. Sen. Jim DeMint (R-SC) today became the first cosponsor of S 604, H.R. 1207's companion legislation. We still have a long way to go before we pass real legislation to Audit the Fed, but this is yet another major step toward our ultimate goal. Sen. DeMint is highly respected and one of the most principled conservatives in Washington. Bernie Sanders (I-VT), 604's lead sponsor, is a firebrand Independent progressive. To see these two guys on...