why is the media not talking about H.R. 1207 Audit the Federal Reserve?

Because most people don't know anything about the Fed. It won't fit into a 1 minute story, whereas Palin/Letterman appeals to a wide audience of people who watch news for entertainment and gossip.

Political news is about scandal and gossip, who's getting along and who's getting snubbed...... it's not about policy.
 
Because the media wants to quell any flames of Liberty that people like Ron Paul may inspire. They would rather not report the truth to further their corporate agenda. And yes, the media is corporate controlled.
 
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