Audit the Fed Bill to See the Light of Day, says Rep. Frank

Barney Frank confirmed what Ron Paul said last week about H.R. 1207, the Audit the Fed bill, that the bill will be attached to other House Financial Services Committee legislation rather than be debated exclusively.

Glenn “Kane” Jacobs happened to confront Rep. Barney Frank (D) at a New York airport about the Federal Reserve oversight bill.

I was in the Boston airport late this morning flying to LaGuardia. As I was talking on my phone, I recognized Congressman Barney Frank walking past me. Not wanting to miss the opportunity, I hung up my cell phone and approached Congressman Frank. Here is our conversation:

Me: “Congressman Frank (handshake), why are you holding H.R. 1207 in committee?”

Frank: “What is 1207?”

Me: “Ron Paul’s bill to audit the Fed.”

Frank: “Oh, yeah. Ron and I have talked about that. We are going to attach it to a comprehensive monetary Fed bill.”

Me: “But you’re not going to water it down, right?”

Frank: “No, we don’t want people to trade off of what the Fed is doing so we don’t want it released the same day.”

Me: “Cause the American people deserve to know what the Fed is doing?”

Frank: “That’s what I just said. You come up to me and you’ve got a chip on your shoulder. And I don’t understand it!” Turns and walks away.