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HR 1207 Now Has The Support Of 290 Voters: Guarantees Passage

Tyler Durden's picture





 

In a critical development for the future of the Federal Reserve, Ron Paul has confirmed that today HR 1207 has garnered the elusive one vote to bring it to a total of 290, or a two-thirds congressional majority. At this point passage of the bill is guaranteed, and hopefully some long, long overdue transparency into the Wall Street-pandering machinations that occur every day within the Fed's four walls at the expense of the American middle class and unmitigated destruction of the US Dollar will finally become a fact.

 

 

 


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Wed, 09/16/2009 - 15:17 | Link to Comment andy55
andy55's picture

I hate to be a downer, but there's that pesky bank-owned senate still to get through.  Sigh.

Wed, 09/16/2009 - 15:23 | Link to Comment Careless Whisper
Careless Whisper's picture

Good point. Only 25 co-sponsors over there.

http://www.govtrack.us/congress/bill.xpd?bill=s111-604

 

Wed, 09/16/2009 - 16:04 | Link to Comment TumblingDice
TumblingDice's picture

time to start blazing those telephone wires.

Wed, 09/16/2009 - 16:16 | Link to Comment JohnKing
JohnKing's picture

We need a "Go Ahead, Make my Day" petition; If you Mr. Senator screw this up I will finance your opponent. NO ifs, NO ands, and NO buts about it, you will be displaced, this will be your last term.

So go ahead Mr. Senator, MAKE MY DAY.

Wed, 09/16/2009 - 16:25 | Link to Comment Anonymous
Wed, 09/16/2009 - 17:24 | Link to Comment JohnKing
JohnKing's picture

It takes a few million to win a Senate race. We the people can get that done.

Rand Paul is getting there:

837,000 dollars raised to date, No special interests

Wed, 09/16/2009 - 20:28 | Link to Comment Anonymous
Thu, 09/17/2009 - 00:11 | Link to Comment Anonymous
Thu, 09/17/2009 - 02:27 | Link to Comment Anonymous
Wed, 09/16/2009 - 19:02 | Link to Comment optionswriter
optionswriter's picture

Is Madame Speaker on board?  W/O her ok, it's doubtful the bill will go anywhere.

Wed, 09/16/2009 - 15:17 | Link to Comment mule65
mule65's picture

Yay!  Another overpriced Govt program that won't work.

Wed, 09/16/2009 - 15:18 | Link to Comment SWRichmond
SWRichmond's picture

How far is the Senate willing to go to thwart the overtly-expressed will of the people?  Let's find out.

Wed, 09/16/2009 - 15:37 | Link to Comment Anonymous
Wed, 09/16/2009 - 17:07 | Link to Comment Anonymous
Wed, 09/16/2009 - 15:18 | Link to Comment john_connor
john_connor's picture

white house will veto unfortunately

Wed, 09/16/2009 - 15:30 | Link to Comment Mr. Anonymous
Mr. Anonymous's picture

How'd you solve the Captcha?  435/290=66.6%

Wed, 09/16/2009 - 15:43 | Link to Comment john_connor
john_connor's picture

my understanding is that white house can veto unless senate also has 2/3 majority, which I find very unlikely.

Wed, 09/16/2009 - 19:05 | Link to Comment Anonymous
Wed, 09/16/2009 - 22:07 | Link to Comment Andrei Vyshinsky
Andrei Vyshinsky's picture

Huh? When our fair leader will have to finally make the fateful decision of whether to side with the bankers or side with the people? Son, that decision was made long ago. You haven't been following things?

Thu, 09/17/2009 - 08:28 | Link to Comment Anonymous
Wed, 09/16/2009 - 15:23 | Link to Comment Crab Cake
Crab Cake's picture

If you guys think this is going to pass the completely corrupted Senate, after clearing the mostly corrupted House; you're crazy.

However, the rejection in the Senate should be an open invitation to the citizens of this country to raise holy hell. 

When this doesn't pass the Senate, and it won't, we as a people (at least several million) need to shut down DC.  Not a march, a week long camp out, and feel free to openly bear arms when you show up if you want.  Shut down DC.

There is no way the powers that be will allow this bill passage, they will fight, and we must too.  Bring grandma, bring the kids and the dog and the barbecue, and let's go show these aholes in Washington who is running the show here.  They can gan get with the program or they can resign. 

Wed, 09/16/2009 - 16:05 | Link to Comment VegasBD
VegasBD's picture

Id come to the east coast for that. As long as its during summer. F the snow

Wed, 09/16/2009 - 16:17 | Link to Comment Anonymous
Wed, 09/16/2009 - 20:05 | Link to Comment Anonymous
Wed, 09/16/2009 - 15:20 | Link to Comment alien-IQ
alien-IQ's picture

This is congress you're talking about. There are NO guarantees.

The only guarantee from them you can bank on is that whatever they do..."We the People" will get fucked and have to pick up the tab for "They the Banksters".

And so it goes....

Wed, 09/16/2009 - 15:25 | Link to Comment Yossarian
Yossarian's picture

Tyler, can you start and "Abolish The Fed" or "Sound Money" PAC? 

Wed, 09/16/2009 - 15:25 | Link to Comment Brian Griffin
Brian Griffin's picture

the senate will piss all over this parade

Wed, 09/16/2009 - 15:30 | Link to Comment Crook County
Crook County's picture

Thank you Zero Hedge for your continued support of the Bill.  Yesterday was Audit the Fed Mass Action day and thousands of petition signatures were delivered to Senate offices across the country and in Washington.  We should see more senate co-sponsors in the coming weeks. 

 

Dr. Paul's new book "End the Fed" comes out this week:  http://www.youtube.com/watch?v=amUtCmpwf6A

 

Wed, 09/16/2009 - 15:31 | Link to Comment Gordon_Gekko
Gordon_Gekko's picture

This criminal institution we call the Federal Reserve should have the most ignominious end. I am hoping HR1207 will speed things up to that end. I wish Ron Paul the very best. Good luck and Godspeed gentlemen!

Wed, 09/16/2009 - 15:36 | Link to Comment buzzsaw99
buzzsaw99's picture

The dollar should not be the personal plaything of wall street.

Wed, 09/16/2009 - 15:50 | Link to Comment waterdog
waterdog's picture

It will make it. Many Senators lost big time as did House members. Also, most of the really big losers blame it all on Bernanke. This is not about the Fed, it is about Bernanke.

Wed, 09/16/2009 - 15:40 | Link to Comment Gilgamesh
Gilgamesh's picture

A delivery of boxes full of markers is on its way to the Senate.  If it makes it out of committee, the final version will look nothing like HR 1207 and won't be reconcilable (virtually no one will want to go on record with a No vote).

Wed, 09/16/2009 - 15:56 | Link to Comment maff
maff's picture

I think you just got it in a nutshell. An outright veto might be useful in a slap-in-the-face kind of way, but a quiet neutering...

Wed, 09/16/2009 - 16:01 | Link to Comment Anonymous
Wed, 09/16/2009 - 15:46 | Link to Comment Anonymous
Wed, 09/16/2009 - 15:47 | Link to Comment Anonymous
Wed, 09/16/2009 - 15:48 | Link to Comment mbielik24
mbielik24's picture

Little BBerg article that popped up. 

Goldman Lobbyist Barred From Financial Services Panel Democrats
2009-09-16 18:19:07.959 GMT

By Robert Schmidt
     Sept. 16 (Bloomberg) -- The head of Goldman Sachs Group Inc.’s Washington lobbying office has been barred from communicating with the Democratic majority on the House Financial Services Committee as the panel seeks to overhaul financial regulations.
     Representative Barney Frank, chairman of the committee, issued the edict in a memo yesterday. Michael Paese, the Goldman lobbyist, was a top staffer on the committee until last September; he was hired by the New York-based bank in April.
     “As we move through the regulatory reform process, making sure that former members of our staff here don’t have undue influence is very important to us,” said Frank’s spokesman, Steve Adamske. “He wanted to make things as clear as possible.”
     The ban comes as the Financial Services Committee begins next month to put together legislation that would set out the most sweeping changes of Wall Street oversight in 75 years.
Banks, including Goldman, have become a target for lawmakers critical of the excessive risk taking that helped lead to the financial crisis.
     In his memo, Frank said that under House rules, Paese had been prohibited from lobbying the panel for one year after his employment there -- a period that expired on Sept. 11. To avoid the appearance of any conflict of interest, Frank said he would extend Paese’s recusal time until the end of the congressional term next year.
     “Neither I, nor full committee nor subcommittee staff, will meet, or otherwise communicate with, Michael on any issues related to committee business or jurisdiction,” wrote Frank, a Massachusetts Democrat. “I ask that subcommittee chairs abide by this same rule.”
     Frank said he was notifying the Republicans on the committee about the decision.
     Goldman spokesman Lucas van Praag and Paese didn’t immediately return calls seeking comment.
     After leaving the Financial Services panel as deputy staff director, and before joining Goldman, Paese worked at the Securities Industry and Financial Markets Association as a lobbyist.

For Related News and Information:
On finance: NI FIN <GO>
On the credit crisis: NI CRUNCH BN <GO>
Most-read stories on the U.S. Treasury: TNI MOSTREAD TRE <GO> Credit crunch page: WWCC <GO> Government relief programs: GGRP <GO> Mortgage payment calculator: MP <GO> Winners, Losers in TARP: BTCPP <Index> MRR4 <GO>

--Editors: Brendan Murray, Jeremy Torobin

To contact the reporter on this story:
Robert Schmidt in Washington at +1-202-624-1853 or rschmidt5@bloomberg.net.

To contact the editor responsible for this story:
Chris Anstey at +1-202-624-1972 or
canstey@bloomberg.net
 

Wed, 09/16/2009 - 22:30 | Link to Comment Andrei Vyshinsky
Andrei Vyshinsky's picture

Oh, I wouldn't get lathered up over a little populist showboating by the poseur, Frank, young man. I mean this is "if-we-don't-bail-them-out-the-whole-economy-will-go-to-hell", Barney Frank, right? His deal was cut years ago. Why he probably called the man privately to explain what he was going to do in advance. If Frank were worth two dead flies, his taking this step never would have been necessary, capisce?

Wed, 09/16/2009 - 15:51 | Link to Comment Anonymous
Wed, 09/16/2009 - 22:43 | Link to Comment agrotera
agrotera's picture

if Barney Frank has his way, this is exactly what would happen---GOD FORBID!

Wed, 09/16/2009 - 15:59 | Link to Comment taraxias
taraxias's picture

An audit of the FED will NEVER happen. 

After all, what are we trying to prove that the FED is insolvent?

If the Chinese don't know that by now, then they're not as smart as we give them credit for.

Wed, 09/16/2009 - 16:48 | Link to Comment SWRichmond
SWRichmond's picture

The American people have a right to know where their money is going, and for what purpose it is going there.  The American people may need to go to some extra measure to ensure that this information is forthcoming.  There is a blooming willingness to do so.

Wed, 09/16/2009 - 16:22 | Link to Comment economicmorphine
economicmorphine's picture

I have spoken with staff in both Texas senators' offices and both support the Senate bill.  Of course, Texas is like a whole 'nuther country.

Wed, 09/16/2009 - 16:35 | Link to Comment JohnKing
JohnKing's picture

It used to be but what has happened to it? It looks like Perry is more fascist than the Feds.

Wed, 09/16/2009 - 16:32 | Link to Comment E Thomas St.
E Thomas St.'s picture

What a bunch of defeatists.

Wed, 09/16/2009 - 16:49 | Link to Comment Anonymous
Wed, 09/16/2009 - 16:50 | Link to Comment straightershooter
straightershooter's picture

Unless the senate got the dreadful "Pitchfork" warnings from every direction, there will be no transparency anywhere near Federal Reserve.

It is high time to let the Senate decide: Pitchfork or audit.

Wed, 09/16/2009 - 17:19 | Link to Comment Gilgamesh
Gilgamesh's picture

Will the puppets find a way to turn control on their masters?  Boy, that has to be awfully tempting to some of these career pols.  Probably time to proactively bring out an example of what happens if you try; let's say, Spitzer?

 

Curious to see about tracking some incoming illegal contributions for life.  The Senators have to feel like 5 year-old kids thinking about what they want for Christmas from their step-father who was just accused of abuse.

Wed, 09/16/2009 - 16:52 | Link to Comment Anonymous
Wed, 09/16/2009 - 16:57 | Link to Comment Anonymous
Wed, 09/16/2009 - 19:24 | Link to Comment Anonymous
Wed, 09/16/2009 - 20:32 | Link to Comment Anonymous
Wed, 09/16/2009 - 17:00 | Link to Comment Anonymous
Wed, 09/16/2009 - 17:07 | Link to Comment Charley
Charley's picture

Hopefully they installed fire sprinklers in the Reichstag...

Wed, 09/16/2009 - 17:11 | Link to Comment Anonymous
Wed, 09/16/2009 - 17:58 | Link to Comment Anonymous
Wed, 09/16/2009 - 19:13 | Link to Comment Anonymous
Wed, 09/16/2009 - 20:09 | Link to Comment Anonymous
Wed, 09/16/2009 - 20:32 | Link to Comment Anonymous
Wed, 09/16/2009 - 22:07 | Link to Comment Anonymous
Wed, 09/16/2009 - 23:02 | Link to Comment Anonymous
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