Well there has been some compromises made, like we won't be able to see how interest rates are decided upon. Or why the OBAMA administration is so afraid of the Citizens seeing where THEIR MONEY was spent. The Amendment in no way audits monetary policy.
What we will see are the TRANSACTIONS made by those in charge of OUR MONEY! WHERE's THE TRANSPARENCY?
BERNIE SANDERS SAY'S "The Bill Would allow the GAO to conduct a top-to-bottom audit of all of the Federal Reserve's emergency lending activities since December 1, 2007. In addition, the modifications require the Fed to put on its Web site all of the recipients of over $2 trillion in emergency assistance since December 1, 2007,"
But it's still the GAO. And it doesn't go far enough, in my opinion. When the GAO audits the government, It's a lot like letting the Fox guard the chickenhouse. We need and want that TRANSPARENCY that Candidate OBAMA talked about in his campaign.
What is so secretive about showing the AMERICAN PEOPLE who wrote the check, why and to whom? Ben Bernanke is up in arms, "this might curve your spine, corrupt your mind and keep the country from winning the war." Actually here are Ben Bernanke 's comments.....
“Such amendments, if enacted, would seriously threaten monetary policy independence, increase inflation fears and market interest rates, and damage economic stability and job creation,” Bernanke said.
I for one would like to see how much of the 1.5 trillion in TOXIC assets the citizens of the United States now own. And ask Senator DODD why he took this provision out of the package being debated. ( Was his countrywide mortgage among those that were taken over by all of us?)
I also believe we as citizens have the right to know who knew what and when about the greatest RECESSION since the great Depression. This audit should shed a little light on those facts.
SO WHAT DO YOU THINK?