Washington, D.C. - House Conference Committee
members, which will reconcile the House and Senate versions of the
financial reform bill, have been announced. Congressman Paul is pleased
to note that 15 out of 31 total conferees are cosponsors of HR 1207,
his bill to audit the Federal Reserve Bank.
The House-passed version of the financial reform bill contains the
basic language of HR 1207 (in the Paul-Grayson amendment). However, a
similar amendment offered by Senator Vitter to the Senate version was
rejected by the Senate. Thus, it is essential that conferees consider
adding the undiluted language of the Paul-Grayson amendment when
reconciling the Senate and House versions of the Financial Reform
Bill. Only the full language of the Paul-Grayson amendment will insure
a thorough, complete, and ongoing audit of the Fed.
“This Financial Reform bill is set to grant sweeping new powers to
the Federal Reserve, which has made a mess of our economy. If my
colleagues insist on expanding the power of the Fed, the very least
they can do is require the Fed to be transparent rather than secretive
in its actions,” stated Congressman Paul. “Luckily, many of the
conferees already have demonstrated their concern about transparency by
cosponsoring HR 1207, and hopefully those conferees will insist on
full transparency in the conference report.”
The House Conferees are: (Democrat/Republican)
Representatives Frank, Kanjorski, Waters, Maloney, Gutierrez, Watt,
Meeks (NY), Moore (KS), Kilroy, Peters, Peterson, Boswell, Waxman, Rush,
Conyers, Berman, Towns, Cummings, Velazquez, Shuler, Bachus,
Royce, Biggert, Capito, Hensarling, Garrett, Lucas, Barton, Smith (TX),
Issa, and Graves.
Senate Conferees are:
Dodd (D-Conn.) Tim Johnson (D-S.D.), Jack Reed (D-R.I.), Charles
Schumer (D-N.Y.), Richard Shelby (R-Ala.), Bob Corker (R-Tenn.), Mike
Crapo (R-Idaho) and Judd Gregg (R-N.H.) Blanche Lincoln (D-Ark.) Patrick Leahy (D-Vt.), Tom Harkin
(D-Iowa) and Saxby Chambliss (R-Ga.).