As Stephen noted last night, Ron Paul has introduced a bill that would require the Federal Reserve to open it’s books to Congress. According to Thomas, that bill now has 79 co-sponsors.

I agree with Stephen that this is an issue that all libertarians, all Americans indeed, need to pay more attention to and, in that spirit, here’s a very interesting clip of House Banking Chairman Barney Frank answering a question about Paul’s bill:

At the very least, Frank’s comments would seem to indicate that the bill will get a fair hearing by the committee, which is more than can be said about previous legislative efforts to crack open the doors of the Fed.

There are no hearing dates set right now, but that doesn’t mean that it isn’t time to contact your Representative and tell them they need to get on board, especially if they’re on the Banking Committee.