Federal Reserve to be audited by House committee
Written by Dr P Fenderson on August 30th, 2009
The massive seat of control over the US Economy and monetary policy, the Federal Reserve, will most likely finally come under close scrutiny by federal investigators. Rep. Barney Frank has finally pushed forward action on a bill, originally introduced by Rep. Ron Paul in 1983, that will bring important public eyes to the inner workings of this financial behemoth.
“We will subject them to a complete audit,” Frank said, explaining that he has been working with Paul, a Texas Republican, on the bill and expects it to pass as part of a broader financial regulatory overhaul in October.
The only problem is that the audit wouldn’t happen until 2011. Absurd.
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