WNO - Paul says no discharge petition to force Fed audit vote

In an exclusive interview with Washington News Observer, Rep. Ron Paul (R-TX) has said he will not attempt to get a much-anticipated discharge petition to force a House vote on his bill to audit the Federal Reserve System.




In the bill, H.R. 1207, Paul calls for the first-ever audit of the Federal Reserve. The bill would require the Comptroller General to issue an audit of both the Board of Governors and Reserve Bank operations, which are run by member banks of the Fed. The audit would have to be issued to Congressional leadership by the close of 2010.


Though bills to audit the Fed have been previously introduced, this is the first time such a bill has gained a majority of bi-partisan support. Currently 167 House Republicans and 65 House Democrats are cosponsoring the legislation. Currently, the Federal Reserve operates independently of Congress and no congressional committee is allowed to oversee the Fed's internal workings.


Contrary to hopes of his supporters, however, Paul told WNO, "It is premature to talk about a discharge petition...That's not likely to happen."

Additional soundbites from Rep. Ron Paul

Federal Reserve Interview:

Soundbite 1:

"The main job is to wake the American people up and if we get closed out it will be proof positive that they are not very anxious for the American people to know what they're doing."


Click on link below for full interview:




The Washington News Observer is a Washington-based broadcast news service. Please visit http://washingtonnewsobserver.com for more information.