The Huffington Post's Ryan Grim appeared on MSNBC's "Morning Meeting" Thursday, alongside author Naomi Klein, to discuss the Ron Paul/Alan Grayson bill calling for an audit of the Federal Reserve. An "Audit the Fed" letter, signed by economists and labor leaders, was sent today to the House Financial Services Committee, calling for passage of the Paul/Grayson bill and alleging that the Fed had "extended massive secret bailouts to major financial institutions." The letter urges committee members to shoot down the Watt amendment, which would allow the Fed to continue to operate in secret.
Klein, who signed the "Audit the Fed" letter, criticized the Watt amendment for allowing "governing in the dark".
"We used to call them zombie banks, they're actually vampire banks," she said. "Because what they're saying is, well there's the bloodsucking thing, but then there's also, turn the lights on, we'll wither, we'll turn to dust."
Grim discussed the challenge the Paul/Grayson bill may face from Watt amendment supporters. "The Ron Paul/Alan Grayson bill has enough support to pass," he said. "So instead of trying to kill it, which they can't do anymore, they come in with what they call a 'compromise,' a serious with a capital 'S' amendment, but if you look at the fine print of it, it actually just extends the secrecy of the Federal Reserve."
Grim elaborated that part of the Paul/Grayson bill's strength lies in its bipartisan support: "You also have unanimous Republican support for this in the committee, so you have this left/right convergence, kind of a grassroots movement, that is trying to challenge the establishment."
WATCH Ryan Grim and Naomi Klein on MSNBC:
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