Ron Paul`s Audit the Fed Bill Hits 207 Co-Sponsors

House Minority Leader Boehner joins bi-partisan coalition supporting Federal
Reserve transparency
ALEXANDRIA, Va.--(Business Wire)--
H.R. 1207, The Federal Reserve Transparency Act of 2009, yesterday surged past
the 200 co-sponsor mark, nearing a majority in the U.S. House of
Representatives. The bill, introduced by Congressman Ron Paul (R-TX), now has
207 cosponsors including 51 Democrats.

Signing on to the bill yesterday were Republican Minority Leader John Boehner
(R-OH) and influential Rules Committee Ranking Member David Drier (R-CA). The
bill has gained 28 co-sponsors just in the month of June.

Congressman Paul's legislation is aimed at pulling back the curtain from a
secretive and unaccountable Federal Reserve. Congress and the American people
have minimal, if any, oversight over trillions of dollars that the Fed controls.

With recent bailouts and spending decisions shining a spotlight on the actions
of the Federal Reserve, more and more pressure is bearing down on Congress to
take action and demand accountability and transparency.

Minority Leader Boehner joins a group of legislators from across the ideological
spectrum. These Representatives include Rep. Tom Price (R-GA), head of the
conservative Republican Study Committee, and Rep. Lynn Woolsey (D-CA), former
head of the liberal Progressive Caucus.

"Americans from every walk of life, across the country, are speaking out and
demanding transparency at the Federal Reserve," said Campaign for Liberty
President John Tate. "Members of Congress, whether they are conservatives,
moderates, progressives, business Republicans, libertarians or blue dog
Democrats, are listening to their outraged constituents and coming together to
support H.R. 1207."

"The American people have had enough. Enough of an out of control Fed, enough of
run away government spending and enough of the secretive Federal Reserve
practices that won't even allow us to know where our money is going," continued
Mr. Tate. "And the message is getting through loud and clear as indicated by the
overwhelming support for this legislation across the country and in the halls of
Congress."

To view a full list of co-sponsors, please click here.

H.R. 1207, would open up the Fed`s funding facilities, such as the Primary
Dealer Credit Facility, Term Securities Lending Facility, and Term Asset-Backed
Securities Lending Facility to Congressional oversight and an audit by the
non-partisan Government Accountability Office. Additionally, audits could
include discount window operations, open market operations, and agreements with
foreign central banks, such as ongoing dollar swap operations with European
central banks.

Campaign for Liberty
Jesse Benton, 703-347-6886 or 202-246-6363

Copyright Business Wire 2009