Wednesday, May 12, 2010

Senate Unanimously Passes FED Audit Bill

Those Ron Paul fans that may be thinking he finally got his way on one of his biggest missions in life are going to be sorely disappointed.  If you go to his website you can read where he says this bill should not be called an audit but a disclosure statement.
The bill introduced by Senator Bernard Sanders was originally supposed to allow Congress to audit the FED on a regular basis but BHO's administration and the liberals put a quick end to that.  They got Sanders to widdle his bill down to a one time examination of its massive emergency lending programs.

As if the above news wasn't disappointing enough - an amendment that would have allowed the government to cut the purse strings to those two taxpayer money hogs (Fannie and Freddie) in the next two years was shot down pretty much on party lines.  Senator Dodd voiced his opinion that closing these two lending giants without having a plan in place would be reckless and irresponsible (ie: health care takeover - my words here).
In case you were wondering about just how much Fannie and Freddie have taken the taxpayers for - it is to the tune of $145 billion and between the 2 of them they put in for $20 billion more in the past 2 weeks.

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