FED IS RUNNING SCARED NOW

[THE MATRIX]

It's about time these people are shown who they really are.

AMERICA'S MOST WANTED WHITE COLLARED CROOKS

In an unprecedented defeat for the Federal Reserve, an amendment to audit the multi-trillion dollar institution was approved by the House Finance Committee with an overwhelming and bipartisan 43-26 vote on Thursday afternoon despite harried last-minute lobbying from top Fed officials and the surprise opposition of Chairman Barney Frank (D-Mass.), who had previously been a supporter.

The measure, cosponsored by Reps. Ron Paul (R-Texas) and Alan Grayson (D-Fla.), authorizes the Government Accountability Office to conduct a wide-ranging audit of the Fed's opaque deals with foreign central banks and major U.S. financial institutions. The Fed has never had a real audit in its history and little is known of what it does with the trillions of dollars at its disposal.

The amendment expressly blocks Congress from interfering with the independence of monetary policy decision-making, but opponents of the measure said that the political pressure would inevitably follow.

Barney Frank all of a sudden doing a 360. Wonder how much the Fed paid him.

http://www.huffingtonpost.com/2009/11/19/fed-beaten-bill-to-audit_n_364546.html

Edited December 13, 2009 by wolfram&hart12345

[thefinalfrontier]

Well its about time, It is WE THE PEOPLE who own the darn thing to start with, They have gone far to long with no accountability,

[UltraThunderMan]

What do they seriously believe will come of this?

[questionmark]

What do they seriously believe will come of this?

Hmmm... lets see...that the Chinese have a bigger than expected mortgage on the US?

[thefinalfrontier]

Hmmm... lets see...that the Chinese have a bigger than expected mortgage on the US?

And let's not forget the Japenese too,

[Startraveler]

The amendment expressly blocks Congress from interfering with the independence of monetary policy decision-making, but opponents of the measure said that the political pressure would inevitably follow.

Out of curiosity, if this criticism turned out to be correct and this did lead to Congressional influence on monetary policy, would you (anyone) support it anyway?

[Ryinrea]

About ****ing time, they need a good ADUIT. Yes, I will support any Audit.

[THE MATRIX]

Out of curiosity, if this criticism turned out to be correct and this did lead to Congressional influence on monetary policy, would you (anyone) support it anyway?

Seeing as how much damage they have cause to the US economy already without any accountability and transparency, I'm willing to take my chances.

Here is an example of why the FED needs to be audited.

http://www.huffingtonpost.com/2009/07/24/bernanke-i-dont-know-whic_n_244302.html

[ninjadude]

Seeing as how much damage they have cause to the US economy already

The damage was caused by a law that was passed in 2000, that allowed insurance companies and others to act like banks and sell unregulated securities.