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originally posted by: Gryphon66
The Federal Reserve is already audited by the General Accounting Office as well as independent auditors. (Source)
This is merely a political stunt by Paul.
Why would Senator Warren support a political stunt by a fringe Presidential candidate?
You stated that Senator Warren was "completely on board" with Big Pharma which is patently untrue.
originally posted by: MOMof3
a reply to: rockintitz
You are a spoiled generation. You can make statements like that because you believe that you will be one of the lucky ones who won't suffer.
WARREN: Is there any scientific evidence that vaccines cause autism?
WARREN: Is there any scientific evidence that vaccines cause profound mental disorders?
SCHUCHAT: No, but some of the diseases we vaccinate against can.
WARREN: The diseases can, but not the vaccines. Is there any scientific evidence that vaccines have contributed to the rise in allergies or autoimmune disorders among kids?
WARREN: Are there additives or preservatives in vaccines that can be toxic to kids?
SCHUCHAT: Not in the amounts that they’re in in vaccines.
WARREN: Is there any scientific evidence that giving kids their vaccines further apart or spacing them differently is healthier for kids?
SCHUCHAT: No, it actually increases the risk period for children.
WARREN: So it adds to the danger?
WARREN: Is there any scientific evidence that kids can develop immunity to these diseases on their own, simply by eating nutritious foods or being active?
WARREN: How do the risks of a child responding negatively to a vaccination compare with the risks of skipping vaccinations and risking exposure to a deadly disease?
SCHUCHAT: Vaccines are safe and highly effective, and it’s important for parents to know that they’re the best way to protect their kids.
WARREN: So I think every parent wants to protect their children, and parents should know that all of the credible scientific evidence suggests that modern vaccines are safe, modern vaccines are effective, and modern vaccines are our best chance of protecting our children from diseases that can kill them. Is that right?
SCHUCHAT: That’s right.
WARREN: Thank you.
Read more at wonkette.com...
First of all, yes the Fed is currently subject to a financial audit. But that’s not what this is about. In this context, audit means program evaluation. There are four short provisions under current law that restrict the Government Accountability Office (GAO) from auditing anything related to monetary policy at the Federal Reserve. That includes the deliberations of the Fed’s monetary policy-setting body, the Federal Open Market Committee (FOMC), the communications of the FOMC to enact the policy decided upon, and the actual transactions conducted by the New York Fed to carry out the policy.
The two “Audit the Fed” bills repeal those four restrictions and ask GAO to complete what is more a programmatic audit than a financial audit and report to Congress on what they find.
When the restrictions were originally added in the 1970s, GAO testified before Congress saying, with regard to the provisions, “[w]e do not see how we can satisfactorily audit the Federal Reserve System without authority to examine the largest single category of financial transactions and assets that it has.”
As someone who previously staffed the Senate Banking Committee, let me say there are few areas less understood by Congress than monetary policy and macroeconomics. Hence there are few areas more in need of a GAO audit than the Fed.
No, that's Her claim.
I haven't claimed that Senator Warren is worried about any part of the legislation. That's your claim.
originally posted by: xuenchen
Then she turns around and says:
“I strongly support and continue to press for greater congressional oversight of the Fed’s regulatory and supervisory responsibilities, and I believe the Fed’s balance sheet should be regularly audited – which the law already requires,” Ms. Warren said in an emailed statement. “But I oppose the current version of this bill because it promotes congressional meddling in the Fed’s monetary policy decisions, which risks politicizing those decisions and may have dangerous implications for financial stability and the health of the global economy.”