Ron Paul says the monetary system is the cause of the crisis, and giving more power to the Fed doesn't make sense since they are the cause of the crisis. The original language of H.R. 1207, calling for a full audit of the Fed, was neutered but there is still a chance to revive the original intent. Without a full audit, we will never understand why bubbles form and why more regulations fail. The Fed audit that Paul is calling for does not challenge the supposed independence of the Federal Reserve.