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Friday
Nov202009

« Tempers Flare In Clash Over Fed Secrecy As Grayson Reminds Watt: "The Road To Hell Is Paved With Good Intentions" »

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HR 1207 Audit The Fed Video: Alan Grayson Clashes With Fed Apologist Melvin Watt -- House Financial Services Hearing -- Aired November 19, 2009

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Grayson slams the Fed and the Watt amendment, and then Watt himself takes the mic and angrily chews out the 75% of the American people who support a Federal Reserve audit, plus Paul and Grayson for daring to question the great B-52 and his central banking wisdom.

"A vote for the Watt amendment is a vote for more secret bailouts."

"The Federal Reserve is more secretive than even the CIA!"

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Earlier:

Ron Paul Exposes The Watt Amendment

House Committee Votes In Favor Of Paul-Grayson

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Reader Comments (27)

November 20, 2009 | Registered CommenterDailyBail
http://www.businessinsider.com/ben-bernankes-fed-tries-to-reinvent-itself-as-a-pro-consumer-watchdog-2009-11

Ben Bernanke's Fed Tries To Reinvent Itself As A Pro-Consumer Watchdog
November 20, 2009 | Registered CommenterDailyBail
http://www.nytimes.com/2009/11/11/business/11fed.html?_r=2&dbk
Under Attack, Fed Chief Studies Politics
November 20, 2009 | Registered CommenterDailyBail
http://www.bloomberg.com/apps/news?pid=20601039&sid=ag6XVCM_C.j4
Roger Lowenstein
Banking Fix Made Easy With Six Simple Steps
November 20, 2009 | Registered CommenterDailyBail
http://www.huffingtonpost.com/2009/10/20/audit-the-fed-bill-introd_n_327642.html
Audit The Fed Bill Introduced In Senate With Bipartisan Support

It's a weaker bill than hr 1207
November 20, 2009 | Registered CommenterDailyBail
Banker whore Mel Watt just isn't convincing. Perhaps his attempt to scare us away from auditing The Fed amounts to going to the well of fear one too many times (on the part of yet another Fed stooge), but I think it's more that the core of his argument is so weak. Namely, it is that the GAO will become like The Fed is now, a menace. The GAO has nothing like the kind of power to protect that The Federal Reserve System does, nor would it. Mel's is a non starter of an argument. Thanks, Mel, for making such a weak case. It makes going forward with a Fed audit that much easier.
November 20, 2009 | Unregistered Commenteredwardo
I actually believe Watt believes what he's saying. I grew up near Watt's district. I know the people and I know people like Mel Watt. I'm pretty sure that Tom Woods pissed him off enough that now he's pretty much fed up, as it were, with all these "crazy," "radical" types (Paul and Grayson) who keep stirring up all this trouble. Obviously Watt doesn't have the first clue about what our central bank does, but he's smart enough to sense that what Paul and Grayson want to do is radical (it IS radical) and he wants no part of it. In that part of the South, blacks and whites have more in common, culturally speaking, than most people think. This is simply a typical Southerner giving free reign to his temperamental conservatism (IMHO).

Having said all that, I say smash those bastards, Mr. Grayson!
November 20, 2009 | Unregistered CommenterJames H
http://www.businessinsider.com/the-aig-bailout-is-still-a-mystery-shrouded-in-lies-2009-11#comment-4b06c17b00000000000edbf7

James you might want to read this story by Carney and my comments...your comment yesterday over there on the Geithner story was phenomenal.
November 20, 2009 | Registered CommenterDailyBail
excellent comments on clusterstock Steve.

Maybe it is time for the 75% of REAL AMERICANS who support auditing the FED, to stand up now, and send Melvin the assless panties he deserves...
November 20, 2009 | Unregistered CommenterS. Gompers
Address please, lets bury him in them...
November 20, 2009 | Unregistered CommenterS. Gompers
Nice point edwardo...good to hear from you...

---------------------
2304 Rayburn HOB
Washington, DC
20515-3312
Tel. (202) 225-1510
Fax (202) 225-1512

There you go Gompers...

I think we should send small packages of diapers to his office so that he and his staff can have protection when they lose their bowels when they see the crap on the Fed's balance sheet...
November 20, 2009 | Registered CommenterDailyBail
Follow the money for the "honorable" Wells...


top 5 contributors total indivs PACs

Bank of America $14,500 $6,500 $8,000
Wachovia Corp $12,500 $2,500 $10,000
American Express $11,000 $1,000 $10,000
American Bankers Assn $10,000 $0 $10,000
KPMG International $10,000 $0 $10,000

Top 5 Industries, 2007-2008, Campaign Cmte
Industry Total Indivs PACs

Lawyers/Law Firms $54,050 $31,750 $22,300
Securities & Investment $47,200 $6,700 $40,500
Commercial Banks $41,500 $10,500 $31,000
Insurance $31,000 $2,000 $29,000
Accountants $30,859 $0 $30,859

Perhaps some vasoline as well.
November 20, 2009 | Unregistered CommenterS. Gompers
Banker Manifesto anyone, "YOU CAN DO IT!!!!"
November 20, 2009 | Unregistered CommenterS. Gompers
Gallup Daily tracking from Nov. 17-19 shows President Barack Obama’s job approval slipping to 49% for the first time in his presidency.

Welcome to the jungle
It gets worse here every day
Ya learn ta live like an animal
In the jungle where we play
If you got a hunger for what you see
You'll take it eventually
You can have anything you want
But you better not take it from me
November 20, 2009 | Unregistered Commentergobias
Grayson and Ron Paul, good one James.
November 20, 2009 | Unregistered Commentergobias
James, I saw a video of Grayson talking about healthcare and how every minute that went by was another life taken by our current system. How come he doesn't talk about troops dying like that?

I used to think Grayson might be able to help fix the financial mess but he is too big of a mess to be taken seriously. No wonder Bernanke told him no to his question(s).
November 20, 2009 | Unregistered Commentergobias
Another set of cooked books
By JEFFREY H. ANDERSON
Last Updated: 2:45 AM, November 20, 2009

Majority Leader Harry Reid is touting the Senate's latest health-care bill as costing $849 billion over 10 years. But this uses the same accounting trick as past versions: 99 percent of the costs don't kick in until the fifth year of that "10-year" period. The true 10-year costs are well over twice what Reid's advertising: $1.8 trillion.

Really.
November 20, 2009 | Unregistered Commentergobias
Leave it to the Germans (Spiegel Online)...

Two Deutsche Bank funds were designed to profit from premature deaths in the US by buying up life insurance policies. But investors have seen precious little return on their investment. Angry customers are accusing the bank of fraud.

Gerhard Strate, a well-respected lawyer based in Hamburg, has seen a lot of things over the years. But he still has a hard time believing the story of the Deutsche Bank funds db Kompass Life 1 and 2, calling it "unbelievable" and "absurd." The closed-end funds buy life insurance policies from Americans and assume responsibility for paying their future premiums. When the original policy-holder dies, the entire payout goes to the fund. It is like short-selling US life expectancy.

DB...I think they are onto something, this may work under Obama's healthcare plan.
November 20, 2009 | Unregistered Commentergobias
This is just one skirmish in a historic war that is unfolding between the American majority and the financial elite. Get ready to hide or join the battle. It isn't going to be pretty. They never are.
November 20, 2009 | Unregistered CommenterJames Street
They got that majority to elect Barry Soetoro. Round one to the financial elite.
November 21, 2009 | Unregistered Commentergobias
They got that majority to elect Barry Soetoro. Round one to the financial elite.

Nice call.
November 21, 2009 | Unregistered CommenterJames H
Gobias, Grayson is obviously wrong about health care. But that's ok, it's not like I have posters of him on my wall. Like Barry, we just have to keep stroking his ego and hope he does the right thing re the Fed and the bailouts. That's all.
November 21, 2009 | Unregistered CommenterJames H
Watt's doesn't want the GAO auditors second guessing the FED? Auditors don't guess at anything - they run numbers to verify accounting claims. Why did Watts continue to shoot himself in the foot by attempting to spread more fear butter on his moldy bread loaf of truth with the suggestion the GAO will be in FED's counting rooms daily - weekly? Maybe they should - maybe they should. Who is Watt's audience, Barney Frank or the BOA grease solicitor general in his North Carolina district?

Watts argued against Grayson's legal points with political rhetoric. He did not deny a single issue Grayson raised. Watts looked scared. He looked tired. Symptoms of Gout, no doubt, from an excess of over contribution from his primary (perhaps only) North Carolina constituent, Bank of America.

To a dog, aggression smells the same as fear. There is no difference. And right now it smells like Watt's, lacking a foot to stand on, has totally piddled his pants. And to think there was a time I thought Watts a courageous ethical man. The way he flailed was more like a rickety old puppet hanging from a web of tangled BOA strings.
November 22, 2009 | Unregistered CommenterCadavre
Dear Mr Watts,

You're definitely NOT the brightest bulb in the set.
OF COURSE the American people "distrust the Fed". WTF planet are YOU living on? Have you SEEN what the Fed is DOING? How DARE you oppose the expressed interests of MANY American citizens ..who DESPERATELY want to know WTF is going on inside the Federal Reserve? Whose side are YOU on anyways you MF? The simple fact that YOU oppose this RIGHT we all to know both as voters & concerned citizens proves to me BEYOND the SHADOW OF ANY DOUBT that YOUR loyalties lie elsewhere.

Your non-sensical 'arguments' against the original HR 1207 along with your efforts to oppose
something as GOOD and OBVIOUSLY MUCH-NEEDED bill as the Grayson-Paul proposal makes me wish dueling was still legal in this country because I'd like to smack you across the face with the hardest glove I could find and then invite you to get runthru by my sword.

Many, many, many times.

Alas I can't and will have to conform myself instead by saying THIS to Mr Watt & his amendment; " You're a MF douchebag POS and I puke mightily upon the scumbucket whore that gave birth to you, most probably thru her anus, you miserably vile and corrupt shitbag!" Propose an amendment to THAT, MF.
November 22, 2009 | Unregistered CommenterWattsYouSlimeyCorruptAsshole
If Ron Paul and Alan Grayson are to be considered "radicals" within American politics just because they demand public accountability, transparency and adherence to rule of law from their elected authorities, then anyone in opposition of those same principles can only be classified in one of the two remaining political categories currently available: 'Douchebags' & 'Traitors'.
November 22, 2009 | Unregistered CommenterRadicalsOrPatriots?
To a dog, aggression smells the same as fear. There is no difference. And right now it smells like Watt's, lacking a foot to stand on, has totally piddled his pants. And to think there was a time I thought Watts a courageous ethical man. The way he flailed was more like a rickety old puppet hanging from a web of tangled BOA strings.
------------------------
If Ron Paul and Alan Grayson are to be considered "radicals" within American politics just because they demand public accountability, transparency and adherence to rule of law from their elected authorities, then anyone in opposition of those same principles can only be classified in one of the two remaining political categories currently available: 'Douchebags' & 'Traitors'.
-----------------------

Restated for emphasis...great stuff...
November 24, 2009 | Registered CommenterDailyBail

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