Water Over Gold
New member
...bill, will Obama VETO the bill? Deal Killer? White House Takes Aim At Fed Audit Provision
http://tpmdc.talkingpointsmemo.com/2010/05/obama-administration-ramps-up-opposition-to-fed-audit-provision.php?ref=fpa
Possibly today, but if not today then soon, the Senate will decide whether or not to follow the House's lead and adopt a provision requiring government auditors to open up the books at the Federal Reserve. The measure enjoys a great deal of popularity on both the left and the right, but is so fiercely opposed by powerful interests that it could nonetheless become a stumbling block in the way of financial regulatory legislation.
Right now Sen. Bernie Sanders (I-VT) is trying to round up 60 or more votes to overcome a likely filibuster and include an "audit the Fed" provision in the Senate's bill. There are just a few small obstacles: the White House, major financial institutions, and the Fed itself.
Fed Privately Lobbying Against Audit, Documents Show
http://www.huffingtonpost.com/2010/05/04/fed-privately-lobbying-ag_n_562330.html
The Federal Reserve is privately lobbying against a bipartisan Senate amendment that would open the central bank to an audit by the Government Accountability Office, according to documents distributed to Senate offices by a Fed official.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a2rzjENZQV5k
March 19 (Bloomberg) -- The Federal Reserve Board must disclose documents identifying financial firms that might have collapsed without the largest U.S. government bailout ever, a federal appeals court said.
The U.S. Court of Appeals in Manhattan ruled today that the Fed must release records of the unprecedented $2 trillion U.S. loan program launched primarily after the 2008 collapse of Lehman Brothers Holdings Inc. The ruling upholds a decision of a lower-court judge, who in August ordered that the information be released.
sizable richard............That's the 2nd time you've posted that link. This will be the 2nd time I've told you to read that bloomberg article.
THAT is what would be revealed in this audit.
http://tpmdc.talkingpointsmemo.com/2010/05/obama-administration-ramps-up-opposition-to-fed-audit-provision.php?ref=fpa
Possibly today, but if not today then soon, the Senate will decide whether or not to follow the House's lead and adopt a provision requiring government auditors to open up the books at the Federal Reserve. The measure enjoys a great deal of popularity on both the left and the right, but is so fiercely opposed by powerful interests that it could nonetheless become a stumbling block in the way of financial regulatory legislation.
Right now Sen. Bernie Sanders (I-VT) is trying to round up 60 or more votes to overcome a likely filibuster and include an "audit the Fed" provision in the Senate's bill. There are just a few small obstacles: the White House, major financial institutions, and the Fed itself.
Fed Privately Lobbying Against Audit, Documents Show
http://www.huffingtonpost.com/2010/05/04/fed-privately-lobbying-ag_n_562330.html
The Federal Reserve is privately lobbying against a bipartisan Senate amendment that would open the central bank to an audit by the Government Accountability Office, according to documents distributed to Senate offices by a Fed official.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a2rzjENZQV5k
March 19 (Bloomberg) -- The Federal Reserve Board must disclose documents identifying financial firms that might have collapsed without the largest U.S. government bailout ever, a federal appeals court said.
The U.S. Court of Appeals in Manhattan ruled today that the Fed must release records of the unprecedented $2 trillion U.S. loan program launched primarily after the 2008 collapse of Lehman Brothers Holdings Inc. The ruling upholds a decision of a lower-court judge, who in August ordered that the information be released.
sizable richard............That's the 2nd time you've posted that link. This will be the 2nd time I've told you to read that bloomberg article.
THAT is what would be revealed in this audit.