The Federal Reserve to grab more power


Courtesy of Campaign for Liberty

This week, the House of Representatives is expected to vote on Barney Frank’s financial regulatory reform bill, which is yet another thousand page-plus attempt to increase the powers of Congress and the Federal Reserve while destroying more of what little free market our country has left.

Contact Congress and tell your representative you have seen enough of the federal government’s thousands of pages of regulations and tinkering around in our economy.

Composed of several bills, the final package up for vote is H.R. 4173, slyly titled “The Wall Street Reform and Consumer Protection Act.” With amendments, this legislation now exceeds 1500 pages!

H.R. 4173 would create more government bureaucracies to interfere with market operations, and, according to Subtitle G of the bill, the federal government would also have direct authorization to take over and break up any financial institution it deems to be “too big to fail.”

So imagine what Congress, well-skilled in articulating pseudo-justifications, would then be able to do, by law, to any institution that resisted its interventions!

Your representative needs to hear from you immediately! Find your congressman’s information here.

Be sure to urge your representative to set a new tone in Washington by instead supporting an up or down, standalone vote on Audit the Fed, H.R. 1207. Before Congress even considers the Federal Reserve’s future role in our economy, it should know what the Fed is up to with the powers it currently has.

It’s long past time to deliver the answers the American people want and deserve about what is being done with their money.

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