Senators Move to Block Audit of FedSubmitted by northstar on Fri, 01/29/2010 - 20:05
POWERFUL SENATORS ARE WORKING to undermine landmark legislation passed by the House on Dec. 11, 2009 that would give the federal government the power to audit the Federal Reserve, says Rep. Barney Frank (D-Mass.), head of the House Financial Services Committee.
According to Frank, Sen. Chris Dodd (D-Conn.), who heads the Senate Banking Committee, has personally assured Sen. Judd Gregg (R-N.H.) that any audit-the-Fed language would never make it through his committee to be included in any Wall Street reform package in the Senate.
Dodd, who recently announced he will not be seeking reelection during the midterm elections next November, is currently vetting a broad Wall Street reform package in the Senate.