The bill known as House Resolution 1207 (S604), the Federal Reserve Transparency Act of 2009 has been gutted by NC Congressman, Democrat, Mel Watt. Watt has used his position as Chairman of the Subcommittee on Domestic Monetary Policy and Technology to ammend the bill to remove authorization to audit the Federal Reserves Monetary Policy and remove requirements for transparency including requirements for the Federal Reserve to disclose secret agreements with forgien central banks.
The bill is unusual in it's level of support. 75% of the public supports the bill to Audit the Federal Reserve. The bill also has 308 co-sponsors in the House of Representative (Including Congressman Perriello, Democrat) and 30 co-sponsors in the Senate (Including Senator Webb, Democrat).
The video below is Judge Andrew Napolitano (Fox News) interviewing John Tate, President of Campaign For Liberty about Congressman Watts actions.
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