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Score 1 for the wingnuts! -- (link)

Posted by znufrii Nov 20 '09, 09:28

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Paul/Grayson amendment to audit the Fed passes House Finance Committee (www.huffingtonpost.com)

Responses:

I kinda can't believe they weren't audited already -- nm - Beaker Nov 20, 10:03 2
- I think it is - just not audited by Congress -- nm - Roger More Nov 20, 10:05 1
  - here are the current Fed audit processes - Roger More Nov 20, 10:08
I'm all for auditing the Fed. Which is why this is never gonna happen. -- nm - Mop (231 lbs) Nov 20, 09:51
is the Fed not a privately owned bank in the US? -- nm - Danedukenuuk Nov 20, 09:40 5
- it's like the European Central Bank, or the Danmarks Nationalbank -- nm - Roger More Nov 20, 09:44 3
  - ECB and DKNB are goverment owned controled and run opreations in every aspect of them - Danedukenuuk Nov 20, 09:45 2
    - Yes... and so's the Fed. It sets interest rates and is a lender of last resort, just like the European Central banks - Roger More Nov 20, 09:47 1
      - local central banks always set the interest rates (and banks follow them when it's in THEIR interes) - Danedukenuuk Nov 20, 09:54
- nope. - znufrii Nov 20, 09:43
Gotta love the headline: Megan Fox Wears Panties, Lifts Foot Above Head -- nm - Mop (231 lbs) Nov 20, 09:33 4
- After seeing the photos last night, I thought, "Those were not as good as they should have been." -- nm - Spawn Nov 20, 09:34 3
  - Playboy and Porn can't be far behind. - Epiphany Nov 20, 09:39 2
    - Go Krupa, go! -- nm - Spawn Nov 20, 09:39 1
      - Krupa is wayyyy to stuck up for pron - Epiphany Nov 20, 09:50
And it's a bad thing to audit the Fed why? -- nm - TWuG Nov 20, 09:30 5
- I don't think it's necessarily bad to audit any central bank, but it could be used as a tool to apply political pressure to an institution that's - mafic Nov 20, 09:34 3
  - what's the worst that could happen, a total collapse of the banking system? :) -- nm - znufrii Nov 20, 09:38 2
    - I just think it's a bad idea to have all of congress second-guessing monetary policy, particularly since a lot of them don't know much of anything - mafic Nov 20, 09:53 1
      - From my reading of the linked article, there is a provision explicitly prohibiting any interference with monetary policy. - znufrii Nov 20, 09:56
- well, because its power in supporting the political and economic establishment relies on nobody knowing what it's actually doing - znufrii Nov 20, 09:33

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