To the editor:

On Feb. 26, HR 1207, the Federal Reserve Transparency Act of 2009, was submitted and referred to the House Committee on Financial Services. This resolution calls for a full audit of the Federal Reserve, a private bank that currently operates in secrecy and is not required to give an accounting to Congress or the American people. As of June 24, this bill currently had 242 co-sponsors, a majority, but House Rep. Dennis Moore, a Kansas Democrat and member of the Financial Services Committee is not among them.

It is the Congress who has power of the purse according to our Constitution, yet this responsibility was abdicated to a third party, outside the checks and balances of the system, and is allowed to run wild. It was on their watch that the bubbles were created for this current crisis and every other economic downturn dating back to 1913, to include the Great Depression.

The people of this nation were promised transparency and accountability this last election cycle. This bill would be a great place to start.