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Official: Obama Administration Opposes Fed Audit

 
OH YEAH !
User ID: 585354
United States
05/06/2010 03:33 PM
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Official: Obama Administration Opposes Fed Audit
[link to www.cbsnews.com]

A top Treasury official says the Obama administration opposes a proposal to audit the Federal Reserve, a plan that has bipartisan Senate support.

Deputy Treasury Secretary Neal Wolin said an amendment to a pending financial regulation bill could encroach on the independence of the central bank. The amendment's sponsor, independent Sen. Bernard Sanders of Vermont, has criticized the Fed for secrecy in its assistance of banks.

The Fed sets interest rates that have broad economic consequences. The House financial regulations bill also requires an audit by the Government Accountability Office.

Wolin predicted that a Republican proposal to dilute the power of a proposed consumer protection entity would be defeated.
Anonymous Coward
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05/06/2010 03:34 PM
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Re: Official: Obama Administration Opposes Fed Audit
Obama is a banker bitch.
Anonymous Coward
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05/06/2010 03:37 PM
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Re: Official: Obama Administration Opposes Fed Audit
LOL, I bet they do.....
.::HoLYWaR::.

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05/06/2010 03:40 PM
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Re: Official: Obama Administration Opposes Fed Audit
The Age of Transparency.

You can't get a fucking birth certificate.
You must vote on bills before you read them.
No way will you ever get to see the books @ the Reserve.
Push the button light the match,
Feel the fault lines detach;
Crosshairs in the evening light,
I sit and watch the city burn tonight.
Anonymous Coward
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05/06/2010 03:42 PM
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Re: Official: Obama Administration Opposes Fed Audit
Yeah, we wouldn't want to encroach on the "independence" of the flipping banks. Screw all the people! The banks must be free!
anonanon
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05/06/2010 04:53 PM
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Re: Official: Obama Administration Opposes Fed Audit
Mr. Transparency doesn't want the rest of us to know just how bad off we really are.

The Fed has had far too much power and been a mystery to just about everyone. Just what is there that we can't see?

Hopefully, there will be enough votes to override his veto.