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AUDIT THE FED

President Obama should do Americans a favor and get behind the AUDIT THE FED amendment rather than fighting it.

His actions in this matter subvert every campaign promise he made about accountability and transparency.

When Congress passes the Sanders “AUDIT THE FED” amendment today important information will be audited by the Government Accountability Office such as:

> > > Decisions about what toxic assets were accepted by the Fed as collateral

> > > How such assets were valued

> > > Who bailout funds were given to

These decisions are wholly separate from the Fed’s core monetary policy decision: raising or lowering interest rates.

The GAO audits the US Department of Defense but they dont second guess the battlefield plans of the generals.

In the same light the GAO will be examining that proper controls are in place to protect the interests of American taxpayers and examine whether Wall Street is being disproportionately benefited in trading and borrowing from the Fed.

Current cosponsors for “Audit the Fed” amendment:

More at Riski: Reform of the Federal Reserve

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