Panel votes to audit the Fed; cap its spending at $4 trillion
Submitted by truthsanityalways on Fri, 11/20/2009 - 13:46
By Ronald D. Orol, MarketWatch
WASHINGTON (MarketWatch) -- Rep. Ron Paul, who has sought to audit the Federal Reserve for 26 years, has inched ever so much closer to his goal.
A key congressional panel on Thursday approved legislation introduced by the Texas congressman that - for the first time in the central bank's 95-year-history -- would require government audits of Federal Reserve monetary policy, as well as how much the central bank has lent and will lend to specific banks.
Fed Chief Ben Bernanke and other key members of the Obama administration, including Treasury Secretary Tim Geithner, had vigorously opposed the move.
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http://www.marketwatch.com/story/panel-votes-to-audit-feds-b...
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The Fed is cooking its books hard and heavy now?
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