Coalition Letter to U.S. Senate re: S. 604, “The Federal Reserve Sunshine Act of 2009”

September 22, 2009

Dear Senator,

We, the undersigned organizations representing millions of Americans, encourage you to cosponsor S 604, “The Federal Reserve Sunshine Act of 2009.”

This legislation would eliminate the restrictions on the U.S. Government Accountability Office (GAO) audits of the Federal Reserve. It directs the Comptroller General to complete, before the end of 2010, an audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve banks, followed by a detailed report to Congress.

Presently, current law excludes the Federal Reserve from a thorough audit or any real Congressional oversight. No government agency or quasi-government agency has such an utter lack of transparency.

Congress has more oversight and insight into the activities of the Central Intelligence Agency than the Federal Reserve.

The Federal Reserve has created and dispersed trillions of dollars in response to our current financial crisis and Americans from across the political spectrum want to know where the money has gone and how it was spent.

By opening all Federal Reserve operations including the Primary Dealer Credit Facility, Term Securities Lending Facility, and Term Asset-Backed Securities Lending Facility, as well as agreements with foreign central banks to a GAO audit and calling for such an audit to be completed by the end of 2010, S 604 would achieve much-needed transparency of the Federal Reserve.

Again, we urge you to co-sponsor this legislation and to cast your every vote in favor of a full-scale audit of the Federal Reserve.

Sincerely,

Campaign for Liberty

Americans for Tax Reform

U.S. PIRG

American Policy Center

Council for Citizens Against Government Waste

No Fear Coalition

Consumer Action

OMB Watch

Center for Fiscal Accountability

OpenTheGovernment.org

Association For Community Networking

John Birch Society

Chicago Digital Access Alliance

Government Accountability Project

NewWayUSA

Earth Intelligence Network

Ph Beta Iota Honor Society

U.S. Bill of Rights Foundation

Republican Liberty Caucus

DownsizeDC.org, Inc.

Oklahoma Council of Public Affairs

American Service Council.

After Downing Street

Public Citizen

democrats.com

Illinois Community Technology Coalition (ilCTC)

National Taxpayers Union

A New Way Forward

National Whistleblowers Center

Citizens for Health

Freedom Works

Project On Government Oversight (POGO)

Former Congressman Bob Barr

Institute for Liberty

Transpartisan Alliance

Essential Information

The Multiracial Activist

The Harbour League

Pain Relief Network

Leave a Reply

Your email address will not be published.