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WATT’S MOVE TO DESTROY FED AUDIT RAISES CORRUPTION QUESTIONS

Mel Watt, a Democrat from North Carolina, laid down the battle lines by eliminating measures meant to encourage transparency from the Federal Reserve. In a move that critics called dubious and dishonest, Watt destroyed a bill intended to bring more financial disclosure from the Federal Reserve.

The legislation had been intended to bring greater accountability to the Fed, by calling for an audit of its books in order to determine taxpayer dollars were being spent wisely. The move by Watt to destroy the bill surprised many congressional onlookers, who were left scratching their heads as to why any elected official would participate in an apparent coverup of the Fed’s financial status, with some calling it deceitful and corrupt.

U.S. Representative Ron Paul, the creator and sponsor of the legislation, said Watt had ‘gutted’ the bill and decried the partisan motivations behind it. Many saw the move as a gift to the international finance industry, who allegedly had questionable transactions with the Fed and do not wish to make such matters public.

Others speculated that Watt relinquished to pressure of a more local nature. His district is home to the national headquarters of the Bank of America, one of the largest banks in the United States and big financial backers of current U.S. President Barack Hussein Obama.

Representative Watt will clearly have to explain himself to his constituents on election day. Political observers cast the move as career suicide, noting that it is never wise to frame yourself as a supporter of taxpayer waste or fraud, which many have alleged is occurring in the Fed.

“He’ll have an uphill battle getting re-elected, even with the banks financing his campaign,” one political strategist noted. “Citizens generally don’t take too kindly to crooks, and that’s what Mel Watts is looking like with this questionable move.”