Tuesday, January 26, 2010

Campaign for Liberty Urges McConnell to Support Hold on Bernanke

(BUSINESS WIRE)--Campaign for Liberty is calling on Senate Republican Minority Leader Mitch McConnell to oppose the confirmation of Federal Reserve Chairman Ben Bernanke. The vote is expected this week.

“The American people are speaking up loud and clear: No Fed transparency should mean no Bernanke reconfirmation”

Appearing on NBC’s “Meet the Press” Sunday, Sen. McConnell would not answer a direct question on how he intends to vote on Bernanke’s confirmation.

A bi-partisan group of Senators led by Jim DeMint (R-SC) and Bernie Sanders (I-VT) has placed a hold on Bernanke’s reconfirmation unless the Senate agrees to a floor vote on S. 604, a bill to conduct a full audit of the Federal Reserve. Due to the hold, Bernanke’s confirmation will require a filibuster-proof 60 votes and faces mounting uncertainty as a growing list of lawmakers express concern about the lack of transparency at our nation’s central bank.

“The American people are speaking up loud and clear: No Fed transparency should mean no Bernanke reconfirmation,” said Campaign for Liberty President John Tate. “Mitch McConnell has an opportunity to show real leadership and stand with his fellow Senators. Campaign for Liberty hopes he will stand up to the Big Bank special interests and support this important stand for transparency.”

S. 604 currently enjoys 31 cosponsors. H.R. 1207, the House companion bill authored by Texas Congressman Ron Paul, has 317 Cosponsors. Audit language from the Paul bill has passed the House as part of Banking Reform legislation. A recent Gallup poll shows that 75 percent of the American people support an audit of the Fed.

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