The Federal Reserve Transparency Act (H.R. 1207), Congressman Ron Paul s landmark bill to audit the Federal Reserve, has been gutted in a House subcommittee as it works its way toward a vote in the full House. The bill, which has garnered an astonishing 308 cosponsors from both parties, has attracted the scalpel of North Carolina Democrat Mel Watt (whose district happens to include Charlotte, the home of Bank of America, Americas largest commercial bank). According to Congressman Paul, whose Campaign for Liberty posted a video on the bill last weekend, Watt has cut out just about everything in prepping the bill for a full committee vote.
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