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Thursday, April 30, 2009
Letter to Representative John Spratt (US House for SC)
Now that over $12 trillion have been pledged towards our financial crisis, more people than ever are concerned about where their money is going, and if it's accomplishing anything.
But in the face of an ever-worsening recession, the Federal Reserve refuses to furnish Congress and the American people with records of how the Bank is allotting and spending trillions of bailout dollars. Shrouded in secrecy, the Federal Reserve is a danger to our political process: No one knows where our money is going or what it is doing, and Chairman Bernanke has said that efforts to disclose such information are "counterproductive."
But that's my money they're using, Representative Spratt! $12 trillion! And without any record of how the Federal Reserve is managing and distributing these trillions of taxpayer dollars, there is no way to know if our present course is sustainable or not.
We must know what is happening with our money, and the Federal Reserve must come clean with the American people.
Please co-sponsor HR 1207, The Federal Reserve Transparency Act of 2009, and do everything in your power to see this bill through to a passing vote.
JP Saleeby, MD
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