Senators Unveil New Bill to Audit the Fed, page 1

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Topic started on 20-10-2009 @ 05:47 PM by ModernAcademia

Senators Unveil New Bill to Audit the Fed

blogs.wsj.com

Proponents of auditing the Federal Reserve have a new bill to support their cause. Sen. Jeff Merkley (D., Ore.) and Sen. Bob Corker (R., Tenn.) introduced legislation today to require the Government Accountability Office to audit several of the central bank’s emergency lending programs that were created during the financial crisis.

To avoid disrupting markets, the legislation directs the GAO to redact from its reports the names of specific institutions using the programs and “identifying details regarding assets or collateral” held in the audited facilities. But that information woul

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reply posted on 20-10-2009 @ 05:47 PM by ModernAcademia

if you read the article it's really just watering down the original bill by Ron Paul.

Okay, I just wrote a whole lot, but some error occured.
Don't feel like writing it all over again..

Merkley, in a statement, said the legislation “strikes the right balance between protecting taxpayer dollars and respecting the central bank’s responsibility to manage monetary policy.” Mr. Corker said it allows audits of emergency facilities “without inappropriately compromising the independence of the Fed or politicizing its role in crafting monetary policy.”

Right balance for who?

This video Today explains it, basically ACCOUNTABILITY

YouTube Link

blogs.wsj.com
(visit the link for the full news article)

reply posted on 20-10-2009 @ 07:26 PM by mike dangerously

I'm surprised there is even a Senate version of this bill!

I always figured if it ever did get that far along they would stick it in some financial sub-committee and let it rot.Of course it's severely watered down but at least the Senate is talking about the Fed even if it's just a show.

reply posted on 20-10-2009 @ 07:50 PM by daddyroo45

Our Government is scared to death of the Federal Reserve Bank. Any act that they pass will basicaly have no teeth. To put a stop to the FED's strangle hold on the common man,we have to limit our use of their fiat currency. Eventually we phase the use of the FRN out completly. I do,have and will barter and trade for things I need. That eliminates the need for as much cash. Use that extra cash to buy your soul back from the FED.
We have to take ourselves out of their game!!

reply posted on 20-10-2009 @ 08:24 PM by slipknotrules2009

Screw the fed we should get together with world leaders work out a plan to start a world currency and then crush the FED Reserve we don't need them anyone can print paper.

reply posted on 21-10-2009 @ 01:08 AM by shortywarn

Originally posted by mike dangerously
I'm surprised there is even a Senate version of this bill! I always figured if it ever did get that far along they would stick it in some financial sub-committee and let it rot.Of course it's severely watered down but at least the Senate is talking about the Fed even if it's just a show.