The "Audit The Fed" Amendment was defeated in the Senate by a vote of 62 - 37. However, the fight is far from over! You can visit the below link to see how your Senators voted along with their contact information.
The following press release is from the Campaign For Liberty's President, John Tate, concerning the Audit The Fed legislation. For those of you that may not be familiar with Campaign For Liberty, it's a PAC founded by Congressman Ron Paul. I ask that that you read the below press release and take action! DEMAND AN "UP OR DOWN" VOTE ON H.R. 1207!!!
Full Fed Audit Amendment Voted Down in Senate
Washington, D.C., May 11, 2010 - Today, the U.S. Senate voted 62 to 37 against an amendment to allow greater transparency at the Federal Reserve.
This amendment was introduced to counter a weaker amendment that would have required only a one time audit just of Fed emergency programs. The new amendment was similar to the original H.R. 1207 audit bill introduced by Congressman Ron Paul and added to the House financial reform package.
"The Sanders Amendment is no substitute for a complete and thorough audit of the Fed," said John Tate, President of Campaign for Liberty. "With this vote, we now have a record of those who really want transparency and those who only pay lip-service to it while upholding the status quo."
If the entire financial regulation bill makes it out of the Senate, it heads to the House, where House Financial Services Committee Chairman Barney Frank will choose which version to move forward on.
“The Dodd bill itself is just another bad piece of legislation, which will benefit no one except the Fed and its friends at big banks,” said Tate. “It institutionalizes bailouts for banks and subsidizes risky financial decisions.”
"Despite what happens with the financial regulation bill, we will continue pushing Congress for an up or down vote on H.R. 1207, which is the only full audit to allow true transparency in our financial system.”