Federal Reserve audit

What a surprise, Chris Dodd, Judd Gregg block "Audit the Fed" in the Senate

Can anyone else hardly wait until Chris Dodd is out of the Senate? Here we go again. The effort to Audit the Federal Reserve, which received a House Majority and survived the House Financial reform bill, of course is being blocked in the Senate.

A House-passed provision to open up the Federal Reserve to an audit by the Government Accountability Office is unlikely to be included in the Senate reform package, Barney Frank told a meeting of House Financial Services Committee members Wednesday, according to people in the room.

Bill Gut Alert - The Audit the Fed Bill is under attack

What a surprise. There is an attempt to gut the audit the Fed bill:

Rep. Mel Watt, a Democrat from North Carolina, has introduced an amendment intended as an alternative to the measure to audit the Federal Reserve introduced by Reps. Ron Paul (R-Texas) and Alan Grayson's (D-Fla.) . But instead of increasing transparency, as the amendment claims to do, Watt's measure would instead make the institution more opaque.

Right now the House Financial Services Committee is marking up the Financial Stability Improvement Act of 2009.

A bill introduced by Ron Paul H.R. 1207 is now being rewritten as an amendment by Paul and Grayson and will hopefully be added to this large Financial reform bill.

We're Gonna Audit the Fed - House Finance Committee Chair Barney Frank

Anyone reading The Economic Populist is aware the Bill, H.R. 1207, written to audit the Federal Reserve has a huge Populist following as well as a majority of Congressional House members as sponsors.

Now, House Financial Services Committee Chair Barney Frank is saying the House at least is going to pass this bill. (h/t MTGM, who says the Fed is immoral)

Bill To Audit Federal Reserve Gets House Majority

Want to know what the hell the Federal Reserve is doing? Now, so do the majority of House Congressional Representatives.

H. R. 1207, Short title: The Federal Reserve Transparency Act, just obtained 221 co-sponsors in support of a GAO audit of the Federal Reserve. This is a House majority.

The blog Firedoglake has support of this bill as an action item.

The long title of the bill is:

To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes