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DEFCON 4
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http://rawstory.com/rs/2010/0511/senate-votes-audit-fed-960/
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Senate votes to audit the Fed, 96-0


By Reuters
Tuesday, May 11th, 2010 -- 12:34 pm

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The Senate on Tuesday approved a proposal to examine the Federal Reserve's role in the Wall Street bailouts of 2008-2009 as part of a broad financial regulation reform bill.

The proposal from independent Senator Bernie Sanders would order congressional investigators to conduct a single audit of the U.S. central bank's use of its emergency lending authority since December 2007. It would require the Fed by December 1 to disclose which banks received its help.

It passed by a vote of 96 to 0.

"Though the measure was always popular, it faced extraordinary opposition from the White House, Wall Street and the Fed itself," Talking Points Memo's Eric Lach noted Tuesday. "Late last week, in a move that defused the opposition, and may have saved Wall Street reform legislation, Sanders agreed to limit the scope of the audit to emergency lending only, exempting other Fed activities.

"That preserved the broad intent of the plan, which was always aimed at bringing the Fed's shadowy activities during the financial crisis into the daylight," Lach added. "Under the terms of the proposal, the Fed will also be required to make public which companies received upwards of $2 trillion in aide from


HOORAY....... GET THOSE CROOKED BASTARDS, GET THEM ALL.....:thumb: STILL A WATERED DOWN VERSION SO THEY HAVE PLENTY OF TIME TO HIDE THE ILL GOTTEN BOOTY!!!!
 

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Information is Ammunition
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22,122 Posts
Means the Senate has their fingers in the pie too
 

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Silent Observer
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367 Posts
Hold on people - look at the fine print - the bill was gutted from it's original wording, essentially removing the "teeth" from it. Very little of what Ron Paul intended actually ended up in this bill.

It's smoke an mirrors to placate the "sheeple" - very little will come of this sorry to say :mad:
 

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Information is Ammunition
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22,122 Posts
whats so special about december of 07?
 

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Registered
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423 Posts
Too bad it will be at least 6 months before they can ask the Fed why the hell they're lending money to Europe.

Of course, I already know what the answer will be...same as last time. To avoid economic catastrophe/disaster/armageddon. :rolleyes:
 
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