Momentum Builds For Ron Paul's "Fed Transparency" Act

Momentum Builds For Ron Paul's "Fed Transparency" Act
Joe Weisenthal | Business Insider

For years, Ron Paul has been a lone voice in Congress, questioning the wisdom of the Federal Reserve -- both its various chairmans and the institution itself. His dogged questioning of Alan Greenspan, and then Ben Bernanke, make for great TV (otherwise, those hearings are total snoozefests).

But now, as America wakes up to its dire financial situation and average people talk about things like "fractional reserve lending", the gold standard, and Zimbabwe-like inflation, he's finally getting some momentum.

It's baby steps, of course. Paul is the sponsor of the Federal Reserve Transparency act of 2009, which demands a GAO audit of the Fed, and a full report to Congress sometime next year. And it's gaining steam. It already has 175 co-sponsors in the House, and now a major Democrat, Rep. Alan Grayson (ironically, the same one who's proposing that stupid France vacation bill we mentioned this morning has joined on, and is urging his party colleagues to join them. Read more.