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Posted on 08/26/2009 9:43:07 AM PDT by TigerLikesRooster
Three out of Four Americans Support a Federal Reserve Audit
Filed Under: Government and Legislation
With yesterday’s ruling by U.S. District Court Judge Loretta Preska that ordered the Federal Reserve to hand over records regarding the lending of taxpayer money to various financial institution, there’s renewed interest in keeping the federal government accountable for their financial practices—especially when it comes to bailouts and monetary policy.
There are currently two pieces of legislation in Congress, HR 1207, which has 282 co-sponsors (101 of which are Democrats) and S 604 which has 23 co-sponsors that would bring new accountability to the Federal Reserve. Notable co-sponsors include Bernie Sanders (I-VT), Russ Feingold (D-WI) and Jim DeMint (R-SC).
The legislation, titled the “Federal Reserve Transparency Act of 2009” would allow the Comptroller General of the United States to do a financial audit of the Federal Reserve. After the audit is complete, the Comptroller General would be required to report his or her findings to Congress.
Although the Federal Reserve is not technically a government agency, it’s a staple of the United States’ current economic system and was created through congressional legislation. A recent survey from Rasmussen reports found that a super-majority of Americans think that it might be time to take a second look as to whether or not the Federal Reserve should continue to operate without accountability.
The survey found that 75% of Americans now support an audit of the nation’s central bank, and only 9% of Americans opposed an audit.
Ping!
What could possibly go wrong?
This will never happen because the results could never be made public.
...IMHO a FDIC audit would trigger a nationwide run on banks....there’s only a handful of 5-star safety rated banks in each state....look here:
http://www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx?t=cb
Indeed, what could possibly go wrong with Schumer and Frank controlling the money supply?
“What could possibly go wrong?”
Nothing more than what has already gone wrong.
Don’t follow politics much, I gather.
If we accept the proposition that a bunch of experts can and will run any part of our government better in near total secrecy than when they are accountable to somebody, we might as well stop having elections.
Don’t you think that legislators will make better decisions if they don’t have to worry about political pressure?
Someone is hiding something.
big ol’ bump
bump
The Comptroller General Could be honest?
This will never happen because we have no legal authority to audit foreign banks. Do you really believe that London, Paris, The Hague, Tokyo, at al, are going to permit the audit of *their* national and major banks by the US?
Understand that the Bank of England, Rothschild Amsterdam, Lessard Brothers Paris, and the Bank of Tokyo are *part* of this monstrosity known as "the US Federal Reserve". There is no way in Hades that there could ever be a public audit of this cabal...
the infowarrior
The Fed is strictly American.
Do you really believe that London, Paris, The Hague, Tokyo, at al, are going to permit the audit of *their* national and major banks by the US?
Do you imagine the Queen of England decides our Fed Funds rate?
Bzzzt... Wrong answer. You lose, but thanks for playing...
the infowarrior
Ya got some bad info....warrior
Where did the money go? Also Goldman Sachs involvement and their market manipulation software - as described by a U.S. Attorney.
Ya got a link or something?
the BGHater
Matter of public record... Toddster. Something even a yuppie should understand...
the infowarrior
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