House Committee to Consider Fed Audits Tomorrow, Frank Says , not 1207

wow the gutted version gets to the floor quick.
sorry if already posted.

Nov. 18 (Bloomberg) -- The House Financial Services Committee will consider measures tomorrow on the powers of congressional investigators to audit the Federal Reserve, the panel’s chairman said today.

Representative Barney Frank, the chairman and a Massachusetts Democrat, said the committee would take up Fed audit proposals during this week’s debate on legislation to create a council of regulators to monitor for systemic risk.

A Democratic proposal would permit audits that are narrower in scope than a Republican proposal and retain the ban on audits of Fed interest-rate decisions. That may set up a clash with Representative Ron Paul, the Texas Republican who signed up more than 300 co-sponsors on a bill to require Fed audits, including the interest-rate decisions, a step the central bank opposes.

continue: http://www.bloomberg.com/apps/news?pid=20601110&sid=ao6f4256...