Audit the Fed - Rep. Gary Peters

Update: As of 11/3, I haven't heard back from my representative. I trust he's busy reading and analyzing all 1,900 pages of HR 3200, the Fannie Med bill.

Given your public statements supporting greater transparency in government, I would like to know why you are not a sponsor for HR 1207, the Audit the Fed proposal. The Federal Reserve acts secretively which is unacceptable in a free and democratic society. The American people have the right to know what the Fed is doing especially given the recent upheaval in the economy. I strongly urge you to sponsor and support this resolution.

A response that I'm satisfied with (albeit 2 months later):

Thank you for contacting me regarding the Federal Reserve Transparency Act of 2009 (H.R.1207). I greatly appreciate you taking the time to express your views on this important matter. Your input is, and will always be, welcomed and appreciated.

Like you, I believe that the federal government should serve with transparency and accountability. The Federal Reserve Transparency Act of 2009 directs the Comptroller General to complete, before the end of 2010, an audit of the Board of Governors, the Federal Reserve System and the Federal Reserve Banks, and submit a detailed report to Congress. Representative Ron Paul, who authored H.R. 1207, offered an amendment during a committee markup of H.R. 4173, The Wall Street Reform and Consumer Protection Act of 2009, which mandates an audit of the Federal Reserve as called for under H.R. 1207.

On November 19, I voted in favor of this amendment, which was included in the final version of the bill. H.R. 4173 passed on December 11, 2009 with my support. It has been referred to the Senate, where it awaits further action.

I would like to thank you again for contacting me. I always enjoy hearing from constituents and hope that you take the time to contact me again soon. For more information, please feel free to visit my website, http://www.peters.house.gov.

[Online message to Representative Gary Peters. Sent 10/28/2009.]