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Last Friday, when we held our first hearing on HR 1207, the bill to audit the Federal Reserve, I knew I was doing the right thing.

That's why I wasn't afraid to ask Fed General Counsel Scott Alvarez "whether it is within the Federal Reserve's legal authority to try to manipulate the stock market or the futures market."

I also knew that I was making a large number of people -- people who have benefited from the Fed's refusal to tell me or any other member of Congress which banks got their money -- pretty angry.

When you speak the truth about what needs to be done to fix the current mess we're in, you make a lot of friends. But you also make a lot of enemies.

And those opponents have put a big target on my back in 2010.

Will you help me fight back by making a contribution to my campaign before the September 30 fundraising deadline?

To give you a sense of the power of these banks, just look at what happened earlier this year. In June, the Wall Street Journal reported that a coalition of financial firms and trade groups donated $286,000 to the campaigns of members of the House Financial Services Committee in the first quarter!

Why?

They no longer liked an accounting rule that required them to report billions of dollars of losses on the mortgage securities that helped create our current mess. The banks and their deep pockets won, getting members of Congress to push for a change in industry accounting standards. The results were fatter "profits" for the banks in the second quarter.

These firms haven't given a dime to me because I don't abide by the pay-for-play rules of Washington.

Instead of the banks, I need to turn to you for support. Please contribute to my campaign to help me fight against the sick pay-for-play culture of Washington.

The big banks are going to bankroll my opponent to the tune of millions, because let's face it, I'm the kind of Congressman who causes them too much trouble.

I need your support to show any potential opponent that standing up to the wheels of power may have made me some enemies -- but that my friends will be fighting with me every day.

Please make a contribution to our campaign before tonight's crucial midnight deadline. http://action.firedoglake.com/page/m2/59....

Thank you for your support.

Alan Grayson
Member of Congress

Last modified: 2009-09-30 10:03:25 by pika-steph