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Thursday, December 10, 2009

Barney Frank's Financial Regulatory Bill H.R. 4173 Up For A Vote

The following is the latest call to action from Ron Paul's perpetual Campaign For Liberty on the Federal Reserve. If you want to get these letters delivered right to your inbox along with many invaluable opportunities for local, state, and national involvement in political activism, visit the link above and sign up with one of the most important libertarian organizations of our era.

Here's the letter:

December 9, 2009

Dear Friend of Freedom,

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.

Tell your representative to oppose H.R. 4173 and to push for a standalone vote on Ron Paul's Audit the Fed bill!

In Liberty,

John Tate



  1. Don't hold your breath waiting for whole chapters to be written about HR 4173 in the history books. The Civil Rights Act of 1964 it ain't. This proposed new law is so riddled with loopholes it might as well be rendered next-to-useless. It was passed 223 to 202 - with not one Republican legislator voting in favor of it. Not one. Even a law as watered down as this one is unacceptable to these fools. That fact alone illustrates more than any other the moral bankruptcy of that hideous party.

    HR 4173 is merely a baby step in the right direction. For three long decades these knuckleheads were permitted - by law - to run roughshod over our economy, looting our national treasure in the process. As Sam Cooke once sang, "a change is gonna come". So much more needs to be done. So many old laws need to be re-instituted. Imagine cleaning up a blood bath with a Kleenex. That is basically what HR 4173 amounts to.

    Tom Degan
    Goshen, NY

  2. I would NOT like to see the FED abolished. I would like to see dividends paid to it's shareholders ENDED, as the stock purchase gives you access to the discount window, and that should be enough for the banks.

    I don't know if this bill will amount to much, the FED is audited now, but the audit is limited in scope.

    We will see.

  3. Tom- I'm confused. If the bill is so impotent and worthless, how is not voting for it a bad thing for Republican legislators?

    Todd- I can think of very little that harms poor and working class Americans more than the machinations of the Federal Reserve Bank. It has got to go.