House Advances Ron Paul’s “Audit The Fed” Bill
It passed the House Oversight Committee on a voice vote.
The bill would direct the Government Accountability Office to complete a broad audit that presumably would include a peek at the Fed’s decision-making and many of its lending policies.
The committee defeated an amendment sponsored by Rep. Elijah E. Cummings, Maryland Democrat, that would have prevented auditors from getting a look at the minutes of internal board discussions.
“This whole idea about ‘Well, we can’t touch the Fed‘ is baloney,” said Rep. Dennis J. Kucinich, Ohio Democrat. “We have to be able to have control over the Fed because it’s controlling every aspect of our economy.”