U.S. Rep. Ron Paul, R-Texas

Rep. Ron Paul, R-Texas, has complained that the bill he sponsored calling for an audit of the Federal Reserve has been “gutted” by congressional committee, pointing specifically to a legislator whose campaign coffers have been boosted by the banking industry.

As WND reported, Paul sponsored H.R. 1207, a bill requiring the Federal Reserve – an organization that’s independent from the U.S. government but nonetheless oversees U.S. monetary policy – be opened to oversight by Congress. The plan compiled over 300 co-sponsors in the House before being sent to committee.

But in a telephone interview with a Bloomberg reporter, Paul said the teeth have been ripped out of the bill.

“There’s nothing left; it’s been gutted,” Paul said. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”…

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