What Being Effective Looks Like

6465518063 b4a7af9e69 b Federal Reserve
Photo by ctj71081

Occasionally, there are things that can be done in Congress that actually accomplish something. Let me tell you about my successful effort to audit the Federal Reserve. Wall Street didn’t like losing to me on that one.

Isn’t that exactly what we all say we want in a Congressman? Someone keeping an eye on our money, and swinging into action to protect it?

In 2009, in the midst of bailout mania, I led the 30-years-long effort to audit the Federal Reserve, which controls our money supply. Until I got to Congress and did it myself, the Federal Reserve had never had an independent audit in its 100-year history. Rep. Ron Paul (R-TX) had first sought an audit when I was still in graduate school, but his bill hadn’t even gotten a hearing, much less a vote. Yet “the Fed” clearly was taking an active role in the bailouts – it’s just that no one knew what that role was.

I recruited more than a hundred Democratic Members of Congress, one by one, to cosponsor my “Audit the Fed” bill. Then I steered it through the Financial Services Committee, and onto the Floor of the House. Then I rescued it from a Wall Street counterattack in the Dodd-Frank Conference Committee.  That’s leadership.

Former Secretary of the Treasury Tim Geithner, Wall Street’s man in the Obama Administration, said that his number-one priority in Dodd-Frank was not to save the world economy, but rather to strike that audit from the bill. But we won. And Wall Street lost.

The audit found $26 TRILLION in secret bailouts to financial institutions. That’s 26 followed by twelve zeroes. $26,000,000,000,000.00 is roughly the cost of 26,000 brand new NFL stadiums, and comes out to around $80,000 per American. You can read more about that here.

As you can imagine, Wall Street was very unhappy with our victory.  Years later, it remains unhappy. If you want Wall Street to continue to dictate our economic policies, driving us deeper and deeper into debt slavery, then just do nothing. In fact, you can stop reading this e-mail right now.

But if you want to continue fighting Wall Street and WINNING, you can [help our cause] knowing that you are supporting a Democrat who gets things done and who is ready, willing and able to stand up for you against the power of Big Money – because I’ve already done that. And won.

Alan Grayson is a former Congressman representing a portion of Florida, USA.


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