Paul-Grayson Amendment To Audit The Fed Passes Overwhelmingly By 43-26

Tyler Durden's picture

In what could be the biggest news of the day, with potentially historic consequences, Mel Watt's attempt to detour the Fed transparency process has been soundly denied. The vote on the final passage of the bill is delayed, but the critical amendment has passed. Congratulations to Messrs Paul and Grayson.

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theadr's picture

Hope the audit tells us how many deeds are double counted in their collateral pool.

geopol's picture

Deeds?  you assume a lot.

koaj's picture

grayson gives me the creeps but he gets props for this

chet's picture

Agreed.  If that guy were my kid's teacher, I'd transfer schools.

But creep or no, he's going after the right targets for now.

faustian bargain's picture

Nice. One hurdle cleared.

ghostfaceinvestah's picture

Who are the 26 who voted against it?  Please post those names.

Oso's picture

agreed, please post.  Those who voted against should be widely publicised, as well as who their contributors are.  It is time for an end to the cronyism and regulatory capture.

Ivanovich's picture

Yes, PLEASE post the list of who voted against.

Anonymous's picture

A couple youtube clips and the vote list can be found here:

falsenegative's picture

Here is the list with some video of the festivities:

Anonymous's picture

Found this on

Did some quick checking seems to be correct. Look at the end of the line to see how your congressman voted.

AL-06 Rep. Spencer Bachus yay
CA-12 Rep. Jackie Speier yay
CA-22 Rep. Kevin McCarthy yay
CA-27 Rep. Brad Sherman yay
CA-35 Rep. Maxine Waters nay
CA-40 Rep. Edward R. Royce yay
CA-42 Rep. Gary G. Miller nay
CA-43 Rep. Joe Baca nay
CA-48 Rep. John Campbell yay
CO-07 Rep. Ed Perlmutter yay
CT-04 Rep. Jim Himes nay
DE-01 Rep. Michael N. Castle yay
FL-08 Rep. Alan Grayson yay
FL-12 Rep. Adam Putnam yay
FL-15 Rep. Bill Posey yay
FL-22 Rep. Ron Klein nay
FL-24 Rep. Suzanne Kosmas

GA-06 Rep. Tom Price yay
GA-13 Rep. David Scott yay
ID-01 Rep. Walt Minnick yay
IL-04 Rep. Luis V. Gutierrez nay
IL-08 Rep. Melissa L. Bean nay
IL-13 Rep. Judy Biggert yay
IL-14 Rep. Bill Foster nay
IL-16 Rep. Donald A. Manzullo yay
IN-02 Rep. Joe Donnelly nay
IN-07 Rep. Andre Carson nay
KS-02 Rep. Lynn Jenkins yay
KS-03 Rep. Dennis Moore nay
MA-04 Rep. Barney Frank nay
MA-08 Rep. Michael E. Capuano nay
MA-09 Rep. Stephen F. Lynch nay
MI-09 Rep. Gary Peters yay
MI-11 Rep. Thaddeus McCotter yay
MN-03 Rep. Erik Paulsen yay
MN-05 Rep. Keith Ellison nay
MN-06 Rep. Michele Bachmann yay
MO-01 Rep. William Lacy Clay yay
MO-05 Rep. Emanuel Cleaver nay
MS-01 Rep. Travis Childers yay
NC-03 Rep. Walter B. Jones yay
NC-10 Rep. Patrick T. McHenry yay
NC-12 Rep. Melvin L. Watt nay
NC-13 Rep. Brad Miller nay
NH-02 Rep. Paul W. Hodes yay
NJ-03 Rep. John Adler yay
NJ-05 Rep. Scott Garrett yay
NJ-07 Rep. Leonard Lance yay
NY-03 Rep. Peter King yay
NY-04 Rep. Carolyn McCarthy yay
NY-05 Rep. Gary L. Ackerman nay
NY-06 Rep. Gregory W. Meeks nay
NY-12 Rep. Nydia M. Velázquez yay
NY-14 Rep. Carolyn B. Maloney nay
NY-25 Rep. Dan Maffei yay
NY-26 Rep. Christopher Lee yay
OH-01 Rep. Steve Driehaus yay
OH-06 Rep. Charles Wilson nay
OH-15 Rep. Mary Jo Kilroy nay
OK-03 Rep. Frank D. Lucas yay
PA-06 Rep. Jim Gerlach yay
PA-11 Rep. Paul E. Kanjorski
SC-03 Rep. J. Gresham Barrett yay
TX-05 Rep. Jeb Hensarling yay
TX-09 Rep. Al Green nay
TX-14 Rep. Ron Paul yay
TX-15 Rep. Rubén Hinojosa yay
TX-19 Rep. Randy Neugebauer yay
TX-24 Rep. Kenny Marchant yay
WI-04 Rep. Gwen Moore nay
WV-02 Rep. Shelley Moore Capito nay

snorkeler's picture

Names & UBS account numbers if possible

agrotera's picture

I hope the scumsuckers in the senate know that if they don't get behind S604, then they can start packing to get out of office and go work for their privately held federal reserve boss in their promised position in a financial service firm.

Lionhead's picture

Amen, agrotera and if my lousy Florida senators don't support this bill, then they're going to face a firestorm of angry voters at the next election cycle including me. Senator Nelson & LeMieux, if you want to keep your seat, then you WILL support this bill.

grunk's picture

Legislative bitch slap for Watt.

ratava's picture

that calmed down the atmosphere more than trillion breathable CO2 credits.

Anonymous's picture

WooHoo. We may yet get an accounting of the "dirty deeds done dirt cheap" Ben and the Boyz have been doing for their Wall Street GANGSTER BANKSTER buds.

SayTabserb's picture

Oh, it's on, baby!

Anonymous's picture

Best news I've had all week.

Lou629's picture

..."the final passage of the bill is delayed"...

There's a surprise.  Want to bet it gets 'delayed' long enough till a way can be found to get it defanged?

RockyRacoon's picture

Details on the "delay"?  Links anyone?  What can we do in the interim to minimize the effects of this "delay"?

lookma's picture

…It should be noted that an overall final vote on financial regulatory reform from the Committee, expected today, was blocked, chiefly by members of the Congressional Black Caucus, panicked about having to take the vote at a time of double-digit unemployment.

(Rep. Barney) Frank told the panel that most of the members pushing him to postpone the vote were members of the Congressional Black Caucus who said that the political environment wasn’t right for a vote this afternoon.

“It’s my understanding,” Frank said, “that the issues being addressed are not internal to this bill.” In other words, the Democrats were not expressing particular problems with the bill itself, but the larger problems in the economy made them reluctant to support a bill that could be portrayed as too friendly to Wall Street.

This calls into question whether the House can finish work on the bill on schedule, by the second week of December.

faustian bargain's picture

What...they think unemployment is going to go down in the next 3 weeks?

JohnKing's picture

Yeah, Barney blames the black guys, how cliché.

Assetman's picture

I'm sure that this has absoltely nothing to do with Mel Watt being a member of the... Congressional... Black... Caucus.

The man must build obstacle courses when he isn't getting campaign contributons from the banking industry.

RockyRacoon's picture

Thanks for the link!  Also from the same post:

UPDATE: OK, there’s something going on here. This comment shows the yeas and nays on the bill. If you check it, you’ll see that practically every member of the Congressional Black Caucus voted against the Paul-Grayson amendment.

CA-35 Rep. Maxine Waters nay, GA-13 Rep. David Scott yay, IN-07 Rep. Andre Carson nay, MN-05 Rep. Keith Ellison nay, MO-01 Rep. William Lacy Clay yay, MO-05 Rep. Emanuel Cleaver nay, NC-12 Rep. Melvin L. Watt nay, NY-06 Rep. Gregory W. Meeks nay, TX-09 Rep. Al Green nay, WI-04 Rep. Gwen Moore nay

That’s 8-2 against the amendment. At one level they’re backing up their member, Mel Watt.

Deficient Market's picture

And that way to get it defangled will be the now imminent market crash, at which point the fed will be "too big to fail" and so an audit could endanger the confidence in the fed. Too predictable...

Anonymous's picture

ok, we audit the FED. then we find out we owe 100 trillion instead of 12 trillion. what do we do then? do you want to open pandora's box? do you really? i certainly hope the auditors goes to ft knox too..... and assay each pallet of gold bars....or what looks like gold bars....

and say they do that and they find tungsten gold plated bars in there. what then? what are you prepared to do? think before you answer.

faustian bargain's picture

Gosh, you have a great point. Let's just keep up the charade, we'll all be happier.

D.O.D.'s picture

Ignorance is Bliss.

Willzyx's picture

Red pill or blue pill?

Burnbright's picture

Yah you are totally right, I would rather live in the dark and have my wealth stolen from me through inflation and given to the FED and FED lap dogs.

Lets just continue being incentive slaves and chase those dolla bills.

ShankyS's picture

You just saved the board another post from me. Could not have said it better. So we want to open pandora's box and if we audited the gold - what would we really find? did you see the Tungsten conspiracy article?


Got this from some other reader here - thanks to whomever it was.



alexdg's picture

Isn't this excellent news? Or is there some kind of catch 22? Will the final passage be flunked? What are the odds of that happening?


How will Geithner, Bernanke and banking lobby react?

I watched on BloombergTV today that Geithner said that he was against reinstating the Glass-Stegall act. What a joke.

curbyourrisk's picture


FLETCH's picture


watch for the language from Barack and Co

if they start supporting this even slightly, we'll know that Timmy and Commie Ben are being setup to take the fall on the economy and the mess.  After all the illegal activity is almost done, the replacements can pretend they are cleaning up the mess.

Larry will get the Chairman job afterall

Banksters get spanked

Elections will be won



SRV - ES339's picture

You could be right FLETCH... although I still hang on to the hope (however faint) that President Obama could be fighting this beast from within... and that the "Banksters" will finally get "whacked" (figuratively speaking of course)... but then again, I buy lottery tickets too!

D.O.D.'s picture

"... although I still hang on to the hope (however faint) that President Obama could be fighting this beast from within... "

Batten down the hatches!!! We got a Live one!!!


SRV - ES339's picture

Knew you couldn't resist...

sysin3's picture

Barbed-wire enema time, for the Fed and for the morons who voted against this.

Crook County's picture

Thank you to everyone who helped support this amendment by contacting congress

Judge's picture

The Fed is already audited.  What this bill is about is giving Pelosi, Reed and Franks control of monetary policy.  And paul is in their bag.