Sen. Sanders’ Audit-the-Fed Bill Passes 96-0

May 12, 2010

(ChattahBox)—Sen. Bernie Sanders’ (I-VT) modified Audit-the-Fed measure, surprisingly passed the Senate unanimously on Tuesday, in a 96-0 vote.

Sanders’ bill was scaled back to audit the Federal Reserve lending made only during the financial meltdown, as far back as December 2007. And no review would be made of the Fed’s policy decisions.

As reported by The Hill:

“The Sanders amendment would require a new audit of the Fed’s emergency lending during the financial crisis and a new audit of the central bank’s governance. It expressly leaves out an audit of the Fed’s monetary policymaking. Sen. David Vitter (R-La.) is still backing the original version of the amendment, which is expected to fail.”

“Rep. Ron Paul (R-Texas), a longtime critic of the Fed, criticized Sanders for modifying the amendment. The House passed legislation in December with a stronger provision on Fed audits; the two bills still need to be reconciled.”

Paul referred to Sanders’ bill, as “watered down” but it should be pointed out that Paul’s ultimate goal is to completely abolish the Federal Reserve.


Comments

One Response to “Sen. Sanders’ Audit-the-Fed Bill Passes 96-0”

  1. melvin polatnick on May 12th, 2010 10:28 am

    Animals in the wild need no supervision, a bird of prey and a goat understand what is necessary for them to survive. In a zoo helpless animals depend on their keepers, without them they would starve to death. Peace and order is needed for the US to survive as a nation, rioting by discontents must be avoided. Uncle Sam is needed as a zoo keeper, his job is to make sure that all the animals are properly fed, peace and order must be maintained at all costs.

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