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questionseverything

(11,850 posts)
26. bernie got the fed audited
Sun Sep 6, 2015, 03:47 PM
Sep 2015

Senate Backs One-Time Audit of Fed’s Bailout Role
By: David Herszenhorn
The New York Times
Tuesday, May 11, 2010

WASHINGTON — The Senate on Tuesday voted unanimously to require a one-time audit of the Federal Reserve’s emergency actions during and after the 2008 financial crisis as part of broad legislation overhauling the nation’s financial regulatory system.

The amendment, proposed by Senator Bernard Sanders, independent of Vermont, would require the Government Accountability Office to scrutinize some $2 trillion in emergency lending that the Fed provided to the nation’s biggest banks.

The vote was 96 to 0.

“At a time when the Federal Reserve has provided the largest taxpayer bailout in the history of the world, the largest financial institutions in this country, trillion-dollar institutions,” Mr. Sanders said in a floor speech, “the Sanders amendment makes it clear that the Fed can no longer operate in the kind of secrecy that it has operated in forever.”

He added, “For the first time the American people will know exactly who received over $2 trillion in zero or virtually zero-interest loans from the Fed, and they will know the exact terms of those financial arrangements.”

http://www.sanders.senate.gov/newsroom/must-read/senate-backs-one-time-audit-of-feds-bailout-role

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The Fed is by, for, and of the 1%-no others need apply. hobbit709 Sep 2015 #1
bernie got the fed audited questionseverything Sep 2015 #26
It's becoming frustrating... Chan790 Sep 2015 #2
If you burn it down, what are you going to replace it with? A HERETIC I AM Sep 2015 #8
How does a publicly sulphurdunn Sep 2015 #12
Fine, but it still has to perform the functions the Fed does now. A HERETIC I AM Sep 2015 #16
The Fed is an autonous entity. sulphurdunn Sep 2015 #18
Do YOU? WinkyDink Sep 2015 #19
Uh huh. Yup Sure. A HERETIC I AM Sep 2015 #20
Damn you FDR! VanillaRhapsody Sep 2015 #3
? questionseverything Sep 2015 #22
FDR bailed out the Federal Reserve.... VanillaRhapsody Sep 2015 #23
yea fdr propped it, was just going back to the 1913creation questionseverything Sep 2015 #25
"propped it up" VanillaRhapsody Sep 2015 #28
Know Thy Enemy - Oligarchs, Corporations And Banks - The 99% Are Mere Chattel To The 1% cantbeserious Sep 2015 #4
This is where the real tension is coming from between normal people and the Status Quo Hydra Sep 2015 #5
Ha ha. It is to laugh. Octafish Sep 2015 #6
What steps should the Fed take within their powers to increase wages? NT 1939 Sep 2015 #7
Time to Make the Fed a Public Utility Octafish Sep 2015 #11
Agreed. sulphurdunn Sep 2015 #13
Somebody somewhere was hoping We the People wouldn't notice. Octafish Sep 2015 #15
Sorry, but Ms. Brown doesn't know what the fuck she is talking about. A HERETIC I AM Sep 2015 #24
She makes sense to me. Why do you say that? Octafish Sep 2015 #27
First of all, it isn't a private bank. A HERETIC I AM Sep 2015 #30
Of course it is. lark Sep 2015 #9
In working in the Aircraft industry.......with a A&P certificate held....starting pay... turbinetree Sep 2015 #10
B-u-u-t-t, sulphurdunn Sep 2015 #14
And whats really classic................................. turbinetree Sep 2015 #32
Monetary policy is ineffective in this economy. Keeping interest bbgrunt Sep 2015 #17
Precisely my point 1939 Sep 2015 #29
Greenspan thinks skilled U.S. workers are paid too much. DirkGently Sep 2015 #21
Maybe they are counting all the outsourced wages.... Marrah_G Sep 2015 #31
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