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HR 1207’s Senate version, S. 896, has been severely watered down, according to Iowa Senator Chuck Grassley.
As reported by the Huffington Post, handwritten notes in the margins of S. 896 include the amendment “with respect to a single and specific partnership or corporation”. This qualification severely limits the “scope of the oversight.”
S. 896 appears to have a very narrow scope or focus, which could narrow even further in conference committee negotiations.
Originally posted by thomasblackraven
I know there's probably a more in-depth thread to post this in, but...
What is the outcome everyone is hoping to achieve with the Fed audit, and is that goal realistic? If the Fed is found to be in complete shambles, what next? Wouldn't that then provide the government with an excuse to give the public for unifying the country under an international reserve bank?..."Look, the old way didn't work. Now let's try something bigger."
I'm all for accountability here, but I fear that if it does happen we might not like the end results. A gold standard would be excellent, but is it a reality anymore?
[edit on 6/16/2009 by thomasblackraven]