While President Obama wants to give the FED more responsibilities in oversight in regulating our banks and large companies, HR 1207 wants to expose the FED for what it is and always has been! HR 1207, the American people and hundreds of politicians with rising numbers want a full accounting and audit of the FED's activities, money in and money out and to whom and for what.
excerpt from the article:
"Both liberal Democrats and conservative Republicans have signed on to Paul’s bill, which would force the Federal Reserve to show exactly where every penny it printed up was spent. As you can expect, the head of this criminal institution Ben Bernanke has said that this bill would mean a “takeover” by Congress and “threaten the financial system, dollar, an economy.” Let me get this straight. The Fed prints up trillions of dollars out of thin air, artificially lowers interest rates to increase poor and malinvestment of capital, and gives Americans the rope of cheap credit to hang themselves with.
Who exactly is the threat to financial stability?"