Send to friend Lamar Alexander rejects transparency and supports the secrecy of The Federal Reserve System. Here is his outrageous response to a supporter of S.604. He writes us back like he is talking to school children. We have to hold him to task.
***** ******
**** ***** Road
Memphis, Tennessee 38 1 17
Thanks very much for getting in touch with me and letting me know what's on your mind
regarding the Federal Reserve System.
In 1913, Congress created the Federal Reserve System to serve as the central bank of the United
States in order to provide the nation with a safer, more flexible, and more stable monetary and
financial system. Over the years, its role in banking and the economy has expanded. Today, its
duties include regulating banks and influencing credit condtions in pursuit of a stronger
economy.. You can learn more about the Federal Reserve's history and current role at
http://www.federalreserve.gov/pf/pdf/pf_1.pdf
The Federal Reserve does not run on taxpayer dollars from Congress. In fact, each year the
Federal Reserve returns any profits to the U.S. Treasury - including nearly $35 billion in 2008.
However, by law the Federal Reserve is accountable to Congress. For example, members of its
Board of Governors are confirmed by the U. S. Senate, and Federal Reserve officials must appear
before congressional committees several times each year. In addition, the Federal Reserve must
issue annual reports and undergo regular audits that cover most of its activities. In a step towards
greater transparency, the Federal Reserve also provides details about its activities on its website at
http://www.federalreserve.gov/monetarypolicy/bst.htm
While ensuring that the Federal Reserve System remains accountable for its actions, Congress
should not try to-micromanage the Federal Reserve or weigh it down with overly burdensome
reporting requirements. It was set up to be independent of the political trends in Washington, and
it should remain that way. That is why I haven't joined as a cosponsor of the Federal Reserve
Sunshine Act.
I appreciate your taking the time to let me know where you stand. I'll be sure to keep your
comments in mind when the Federal Reserve is discussed and debated in Washington and in
Tennessee.
Sincerely,
Lamar |
We have attached the document in pdf
Local
In addition, the Federal Reserve must issue annual reports and contractors insuranceundergo regular audits that cover most of its activities.Thankyou.Adan2501
Same Canned Response
I received the same canned response from Senator Alexander. My response is at my blog:
http://tinyurl.com/yzba3wt
I then received the following email from Senator Alexander...
"Thanks for getting in touch with me.
I'm glad you received my response to your comments on the Federal Reserve System. Although in many cases I have taken a position on an issue long before a vote, I pride myself on being open to new ideas and arguments. Even in cases where we may disagree on issues, I do weigh carefully the opinions of Tennesseans on both sides of an issue before casting a vote in the Senate. Your comments help me to know where the people of Tennessee stand on this issue, and they are very helpful to me in making decisions."
Which looks like just another canned response.