[mattduke]

$this->bbcode_second_pass_quote('', 'P')aul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee.

Keith Kelly, a spokesman for Watt, declined to comment and said Watt wasn’t immediately available for an interview. Watt’s district includes Charlotte, headquarters of Bank of America Corp., the biggest U.S. lender.

[mcgowanjm]

From jrdeputyaccountant on auditing the Fed:

$this->bbcode_second_pass_quote('', '
')So the Fed is trying to sell us the car and tell us the only thing that matters is that the gas tank is full.

What good is HR 1207 going to do?

[pablonite]

Hopefully everyone moves on to the solutions quickly instead of getting stuck playing a game you know you are going to lose. The Fed is a fraud, of course they don't want to be audited and can easily prevent it. They have been writing the rules of the game for almost 100 years now.

The headline story is that the Federal Reserve is a fraud that started with the conspiracy on Jekyll Island. Period. I like Ron Paul and he could be some real hope and change but the majority of people need to get the basic understanding down first.

It will be too easy to label it as a malfunctioning system with good intent that just needs some repairs if we choose any other description.

Ellen Brown has long been over the initial shock and has been looking for solutions...

http://globalresearch.ca/index.php?context=va&aid=17732
$this->bbcode_second_pass_quote('', 'S')olution to the Credit Crisis? The Campaign for State-owned Banks

While bank bailouts fatten Wall Street, states continue to battle the credit crisis. In the search for innovative solutions, some political candidates are proposing that states generate their own credit by setting up their own banks.

State budgets for 2010 face the largest shortfalls on record, totaling $194 billion or 28 percent of state budgets; and 2011 is expected to be worse...

...In Oregon, Bill Bradbury has included a state bank platform in his bid for governor. Bradbury, a Democrat, was formerly secretary of state and has been endorsed by former Vice President Al Gore. His website declares:

“It is time to put Oregonians back to work. It is also time to declare economic sovereignty from the multi-national banks that in large part are responsible for much of our current economic crisis. We can achieve these two goals by creating our own bank.”...