"To require the non-partisan Government Accountability Office to conduct an independent audit of the Board of Governors of the Federal Reserve System that does not interfere with monetary policy, to let the American people know the names of the recipients of over $2,000,000,000,000 in taxpayer assistance from the Federal Reserve System, and for other purposes."[link]
Washington Post Ezra Klein wrote: "The amended version of Audit the Fed passed the Senate 96 to 0 today. A version that was closer to the original -- that is to say, it would've created a regular audit rather than a one-time audit -- lost, 37 to 62. I'm a bit confused by a world in which 96 senators think we need to know what the Fed did in 2008 and 2009 but only 37 think we'll need to know what the Fed did in 2012 and 2013."[link]
No permanent periodic full audit by GAO. What! This is wacked! A ONE TIME audit of the FED. What is this? The keystone cops after-the-fact theft of 2 trillion?
Somebody email and tell me I got this wrong. I can't believe my gov't beats me in stupidity legislation like this. So now we wait till the next economic crash-bailout for Keystone cops to ID catch & release perps in perpetuity.
Oh God!! This is a bad movie.
-- Edited by NUKE ROCKY44 on Wednesday 12th of May 2010 11:07:11 PM