Ron Paul regarding the Senate Audit the Fed bill:
Bernie Sanders has sold out and sided with Chris Dodd to gut Audit the Fed in the Senate. His “compromise” is what the Adminstration and banking interests want: they’ll allow the TARP and TALF to be audited, but no transparency of the FOMC, discount window operations or agreement with foreign central banks. We need to take aciton and stop this!
I am outraged. The Senate just voted down the Vitter Amendment and against a real audit of the Federal Reserve. My entire team and I are going to work very hard to make sure the American people know who voted right, and who voted with the banking special interests.
ORIGINALLY POSTED May 11, 2010 13:50
The Senate has passed what is being called the Audit the Fed bill with overwhelming support (96-0).
Up until about last Thursday (coincidence?) there was a possibility through the Vitter amendment (see below) that the Audit the Fed bill in the Senate was going to actually audit Fed monetary policy and discount window transactions as per the House of Representative’s bill (HR1207) which passed with significant support last year. The new bill, which was passed in the Senate, was changed by Senator Sanders at the very last minute, according to Ron Paul. Additionally, any hope of the Vitter amendment being passed seems to have been wiped out by Thursday’s stock market crash, which we have suggested was an attack on our financial system and a clear message to Congress by parties interested in keeping Fed activities secret.