Even though a deal was supposedly reached yesterday for a watered-down version of a Fed audit, a source on the Hill tells me:
Do not be deceived that this Senate ‘deal’ is done, though. The amendment has not passed, and I have heard rumors that Geithner and Bernanke are still fighting this compromise quietly behind the scenes. If it does pass, Fed transparency reformers will be in a very strong position going into the conference committee, which will merge the Senate and House bills.
In addition, Ron Paul is urging everyone to call your Senator and urge that they vote in favor of a full audit of the Federal Reserve.
Indeed, Senator Sanders – who introduced the weakened version of the bill yesterday – himself says :
I support the legislation passed by the House of Representatives under the leadership of Congressmen Ron Paul and Alan Grayson…. My goal, as I conveyed to Congressmen Paul and Grayson when we talked on Friday, is to do everything that I can to pass this amendment in the Senate, and then to work with them for the strongest possible language in the final bill.
We can support Sanders, Paul and Grayson’ effort to include strong language in the final bill by pressuring the Senate for a full audit. Indeed, if we don’t keep the pressure on, Bernanke and Geithner will make sure that the legislation is gutted entirely.
You can find your Senator’s phone number here.