Vitter ammendment to Audit the Fed voted down:(

[sunshine05]

Here is how everyone voted, in case you are interested.

Alphabetical by Senator NameAkaka (D-HI), Nay
Alexander (R-TN), Nay
Barrasso (R-WY), Yea
Baucus (D-MT), Nay
Bayh (D-IN), Nay
Begich (D-AK), Nay
Bennet (D-CO), Nay
Bennett (R-UT), Nay
Bingaman (D-NM), Nay
Bond (R-MO), Nay
Boxer (D-CA), Nay
Brown (D-OH), Nay
Brown (R-MA), Nay
Brownback (R-KS), Yea
Bunning (R-KY), Yea
Burr (R-NC), Yea
Burris (D-IL), Nay
Byrd (D-WV), Not Voting
Cantwell (D-WA), Yea
Cardin (D-MD), Nay
Carper (D-DE), Nay
Casey (D-PA), Nay
Chambliss (R-GA), Yea
Coburn (R-OK), Yea
Cochran (R-MS), Yea
Collins (R-ME), Yea
Conrad (D-ND), Nay
Corker (R-TN), Nay
Cornyn (R-TX), Yea
Crapo (R-ID), Yea
DeMint (R-SC), Yea
Dodd (D-CT), Nay
Dorgan (D-ND), Yea
Durbin (D-IL), Nay Ensign (R-NV), Yea
Enzi (R-WY), Yea
Feingold (D-WI), Yea
Feinstein (D-CA), Nay
Franken (D-MN), Nay
Gillibrand (D-NY), Nay
Graham (R-SC), Yea
Grassley (R-IA), Yea
Gregg (R-NH), Nay
Hagan (D-NC), Nay
Harkin (D-IA), Nay
Hatch (R-UT), Yea
Hutchison (R-TX), Yea
Inhofe (R-OK), Yea
Inouye (D-HI), Nay
Isakson (R-GA), Yea
Johanns (R-NE), Nay
Johnson (D-SD), Nay
Kaufman (D-DE), Nay
Kerry (D-MA), Nay
Klobuchar (D-MN), Nay
Kohl (D-WI), Nay
Kyl (R-AZ), Nay
Landrieu (D-LA), Nay
Lautenberg (D-NJ), Nay
Leahy (D-VT), Nay
LeMieux (R-FL), Yea
Levin (D-MI), Nay
Lieberman (ID-CT), Nay
Lincoln (D-AR), Yea
Lugar (R-IN), Nay
McCain (R-AZ), Yea
McCaskill (D-MO), Nay
McConnell (R-KY), Nay Menendez (D-NJ), Nay
Merkley (D-OR), Nay
Mikulski (D-MD), Nay
Murkowski (R-AK), Yea
Murray (D-WA), Nay
Nelson (D-FL), Nay
Nelson (D-NE), Nay
Pryor (D-AR), Nay
Reed (D-RI), Nay
Reid (D-NV), Nay
Risch (R-ID), Yea
Roberts (R-KS), Yea
Rockefeller (D-WV), Nay
Sanders (I-VT), Yea
Schumer (D-NY), Nay
Sessions (R-AL), Yea
Shaheen (D-NH), Nay
Shelby (R-AL), Yea
Snowe (R-ME), Yea
Specter (D-PA), Nay
Stabenow (D-MI), Nay
Tester (D-MT), Nay
Thune (R-SD), Yea
Udall (D-CO), Nay
Udall (D-NM), Nay
Vitter (R-LA), Yea
Voinovich (R-OH), Nay
Warner (D-VA), Nay
Webb (D-VA), Yea
Whitehouse (D-RI), Nay
Wicker (R-MS), Yea
Wyden (D-OR), Yea

http://senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00138

[sunshine05]

Ron Paul on the Vitter ammendment:

Ron Paul And The Vitter Amendment
"At a time when Greece, Portugal, Spain and other countries are experiencing dire financial crises and have their hands out to the international community, we need to know if our Federal Reserve is at all involved in bailing them out. As weary as we are of bailing out companies, the American people would not stand for bailing out entire countries. Our government is wasteful enough in its own affairs without contributing to the waste of other countries. Yet the Fed currently has the tools it needs to do just this, and to do it in secret. If we cannot take away the Fed’s ability to waste trillions of taxpayer dollars on failing companies and failing countries, at the very least, we can take away their ability to do this with no transparency or accountability to the American people. While the Sanders Amendment no longer contains a full audit, Senator David Vitter has introduced an amendment which contains the Audit the Fed language that passed the House last fall. The Senate must pass the Vitter amendment for full disclosure and full accountability going forward." - Ron Paul

Congressman Ron Paul urged support for an amendment by Sen. David Vitter (R-La.), that is identical to what's included in the House-passed bill that will require "full disclosure and full accountability going forward." (of the Federal Reserve)

http://yedies.blogspot.com/2010/05/ron-paul-and-vitter-amendment.html

[Cebu_4_2]

YEAs 37
NAYs 62
Not Voting 1

[NOOB]

brown is MA voted nay. We could have dug up kennedy for that vote.

[mick silver]

i knew it would never pass ............... there not going to tell the truth anyways ... even if they did audit the fed the people of this country would never know how bad it is

[Twisted Titan]

What were you expecting???

Accountabilty???

[jaybone]

Whenever I expect somebody or something to be other than what they are I silently think this phrase:
"You are expecting the fish to be warm and fuzzy again Jay"

Criminals will always cover up their crimes until they are caught.
Parents will always drive their kids crazy,
kids will always drive their parents crazy,
other people will never be able to drive as well as I can,
or get out of the aisle in the supermarket,
or keep quiet in a movie theater.

It IS what it IS until it isn't.

Can't say I am surprised the de facto employees of the FED are not willing to bite the hand that feeds.

[Apparition]

Politicians, as usual.

I'm surprised that Franken, Leahy, Levin, Stabenow, & Whitehouse voted no--although I really shouldn't be.

[RJB]

I don't cuss much but now is an appropriate time.

What a fucking disgrace! These cowardly traitors!

[Horn]

Ickshney on those that what nay say. >:(

[k-os]

The only reason to vote Nay on this is if you are knowingly complicit in the deceit.

[sunshine05]

ALG(Americans for Limited Government) Condemns Senate for Failing to Audit the Federal Reserve


May 11th, 2010, Fairfax, VA—Americans for Limited Government President Bill Wilson today denounced the U.S. Senate for failing to adopt an amendment to the Dodd financial takeover bill that would have authorized a full audit of the Federal Reserve including its dealings with foreign governments.

“On Sunday, the Fed decided to bail out Europe with a credit line after the Fed Chairman Bernanke promised Congress that it would not do so,” Wilson said.

“The Fed and European Central Bank are essentially guaranteeing the bond sales of bankrupt countries. Without the Vitter amendment, the Federal Reserve will continue to operate in secret and with impunity, endangering the financial system, weakening the dollar, and subsidizing risky bets in the markets,” Wilson explained.

“Making matters worse, the Senate is telling the American people that they do not have a right to know about this and other Fed transactions with foreign central banks and governments.”

An amendment offered by Senator David Vitter (R-LA) would have lifted restrictions on the Government Accountability Office that pursuant to 31 USCA §714(b) prohibits it from auditing the Federal Reserve’s transactions with foreign central bank and governments, its deliberations, decisions, or actions on monetary policy matters, its discount window operations, the reserves of member banks, securities credit, interest on deposits, open market operations and transactions.

“The Vitter amendment was an anti-bailout amendment, and the Senate just said no to stopping bailouts or even conducting any oversight of them. Instead, the Senate just issued the Fed a blank check that it does not even want to know about what the central bank is up to. The American people should not be surprised, then, when the Fed bails out more foreign countries that cannot pay their own debts,” Wilson warned.

The Vitter amendment failed by a vote of 62 to 37.

Yesterday, Wilson had denounced Federal Reserve Chairman Bernanke for going back on his word that the Federal Reserve would not be participating in any foreign bailouts after the central bank announced it was extending a credit line to foreign central banks, including the European Central Bank, to bolster lending in near-bankrupt countries like Greece, Portugal, Ireland and others.

At the time, on February 24th, Bernanke told the House of Representatives, “we have no plans whatsoever to be involved in any foreign bailouts or anything of that sort.”

“Ben Bernanke misled Congress about the Fed’s European bailout, and now the U.S. Senate is covering up for him,” Wilson said.

Wilsons has previously noted that the Federal Reserve was a “principal actor” in causing the financial crisis: “By keeping interest rates too low for too long, the Fed accommodated the inflation of the housing bubble throughout the 1990’s and 2000’s by pumping easy money into the system.”

Wilson cited research by Stanford economist John Taylor who in a recent Wall Street Journal column wrote, “the Fed's target for the federal-funds interest rate was well below what the Taylor rule would call for in 2002-2005. By this measure the interest rate was too low for too long, reducing borrowing costs and accelerating the housing boom. The deviation from the Taylor rule, which had characterized good monetary policy during the previous two decades, was the largest since the turbulent 1970s.”

“Clearly, the Dodd financial bill is a farce, and will not even be addressing one of the root causes of the financial crisis. Without a full audit of the Federal Reserve, Congress cannot perform its constitutional role of oversight of the central bank. The Senate just voted to keep its blinders on, and to bow at the altar of central planning,” Wilson concluded.

http://getliberty.org/content.asp?pl=10&sl=5&contentid=449

[Quantum]

Who cares?

The idea of "audit the Fed" is among the most asinine. Everyone in their right mind knows the Fed must be shut down, not audited.

[sunshine05]

http://www.youtube.com/watch?v=G5wnosWoxCo