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Sponsored and Cosponsored Legislation
Federal Reserve Transparency Act of 2009 - Cosponsor
Repeals the authority of the Comptroller General to carry out an onsite examination of an open insured bank or bank holding company only if the appropriate federal regulatory agency has consented in writing. (Retains the authority of the Comptroller General to audit a federal agency.) Directs the Comptroller General to complete, before the end of 2010, an audit of the Board of Governors of the Federal Reserve System and of the federal reserve banks, followed by a detailed report to Congress.
While the Fed’s Washington-based Board of Governors is a federal agency subject to the Freedom of Information Act and other government rules, the New York Fed and other regional banks maintain they are separate institutions, owned by their member banks, and not subject to federal restrictions.
For example, in a recent appearance before the Senate, the following exchange occured between Fed Chairman Ben Bernanke and Senator Bernie Senators:
Senator Sanders: "Will you tell the American people to whom you lent $2.2 trillion of their dollars?"
Chairman Bernanke: "No"
Originally posted by minkmouse
It seems to me that the fed is just a fancy name for a central bank, if you whoop it to death in the US, it's still got a strangle hold on 90% of the rest of the global community. You've cut off an arm but not killed the beast. I understand the OP's desires and the desires of subsequent posters but it seems to me one has to put the beast to bed worldwide before it changes the game. To me, it's like the wilder beast calf saying to the wolf who has him in a stranglehold "STOP!...I have a court order that says to make it fair you can only run on two legs!" The rest of the wolf pack will of course want to know if the ruling applies to them. If the "Fed" were an entity unto itself then defeating it would be worthy of a massive celebration but as it stands it's just a manifestation of a much bigger animal...My opinion of course.
ETA...Wilder beast and wolves used to roam long ago lands until lions got the voteedit on 18-7-2012 by minkmouse because: (no reason given)
Originally posted by eLPresidente
Originally posted by minkmouse
It seems to me that the fed is just a fancy name for a central bank, if you whoop it to death in the US, it's still got a strangle hold on 90% of the rest of the global community. You've cut off an arm but not killed the beast. I understand the OP's desires and the desires of subsequent posters but it seems to me one has to put the beast to bed worldwide before it changes the game. To me, it's like the wilder beast calf saying to the wolf who has him in a stranglehold "STOP!...I have a court order that says to make it fair you can only run on two legs!" The rest of the wolf pack will of course want to know if the ruling applies to them. If the "Fed" were an entity unto itself then defeating it would be worthy of a massive celebration but as it stands it's just a manifestation of a much bigger animal...My opinion of course.
ETA...Wilder beast and wolves used to roam long ago lands until lions got the voteedit on 18-7-2012 by minkmouse because: (no reason given)
So to put it simply, its too hard so you're giving up early?
OK. I guess...
Originally posted by minkmouse
Originally posted by eLPresidente
Originally posted by minkmouse
It seems to me that the fed is just a fancy name for a central bank, if you whoop it to death in the US, it's still got a strangle hold on 90% of the rest of the global community. You've cut off an arm but not killed the beast. I understand the OP's desires and the desires of subsequent posters but it seems to me one has to put the beast to bed worldwide before it changes the game. To me, it's like the wilder beast calf saying to the wolf who has him in a stranglehold "STOP!...I have a court order that says to make it fair you can only run on two legs!" The rest of the wolf pack will of course want to know if the ruling applies to them. If the "Fed" were an entity unto itself then defeating it would be worthy of a massive celebration but as it stands it's just a manifestation of a much bigger animal...My opinion of course.
ETA...Wilder beast and wolves used to roam long ago lands until lions got the voteedit on 18-7-2012 by minkmouse because: (no reason given)
So to put it simply, its too hard so you're giving up early?
OK. I guess...
Well...If you have to rationalize it for yourself, that will do as good as anything else. Feel better now?
Originally posted by tw0330
They wont find any major violations, here's why
Congress may be interested in Auditing the FED, but notice, if it was as important as they say it is, then they would have done this by now. Fact is, they are giving the FED time to falsify documents and hide/forge as much information as possible. Many in Congress know what the FED does to our money, but are stalling as long as possible to give them time, then when all is ready, they will turn around and scream AUDIT THE FED, knowing good and well what will and wont be found through fraud.
Come on people, If congress did care about keeping the FED honest then they would do what the IRS does to us, and do surprise inspections, or not give them much notice what so ever.
Originally posted by Skorpiogurl
I have a few questions.
Does anyone here live in or near one of the Federal Reserve's 12 districs? Has anyone here ever actually visited any of the Federal Reserve websites or locations? Has anyone ever taken advantage of the consumer tools, information, free advice and/or council offered by the Fed? If the System was taken down, does anyone know who would regulate our Banks?
Thanks.