GOP: The Party of Ron Paul
Here we go. In their desperation to do anything possible to obstruct financial regulatory reform, House Republicans are going to align themselves with the keynote speaker of the John Birch Society’s 50th anniversary convention — Ron Paul: GOPers To Push Fed Audit.
House GOPers will make a push to audit the Federal Reserve in a last-ditch effort to stop financial regulatory reform legislation, leaning on a popular proposal from Rep. Ron Paul (R-TX) to make their case.
The GOP will offer the Fed audit as a motion to recommit, the minority’s last chance to alter a bill before final passage. A motion to recommit is subject only to an up-or-down vote, not to debate or amendments.
The regulatory reform measure does have an audit provision in the conference report, but it is limited to loans made by the Fed during the height of the economic crisis. Paul’s bill would allow a total examination of the Fed’s books.
Frank says: