emazur
03-17-2010, 09:32 PM
http://www.theatlantic.com/business/archive/2010/03/ron-paul-on-the-dodd-proposals-treatment-of-the-fed/37589/
Dodd does want a GAO audit of the Fed. What's your sense of how that compares to your amendment that passed for the House version?
I haven't looked in total detail, but it looked to me like the same language of the Watt bill, when Mel Watt and I had the debate in committee when his went down and mine prevailed. I think the Watt language got put in there, which was just sort of words, but no true audit. It's been more or less been conceded by the Fed and others that these lending agencies that were created during the crisis, that we will eventually will get that material, and I think that's what they say they can do. But it doesn't do anything about overseas lending, central banks and other governments, and what happens at the discount window. None of that will be audited.
Dodd does want a GAO audit of the Fed. What's your sense of how that compares to your amendment that passed for the House version?
I haven't looked in total detail, but it looked to me like the same language of the Watt bill, when Mel Watt and I had the debate in committee when his went down and mine prevailed. I think the Watt language got put in there, which was just sort of words, but no true audit. It's been more or less been conceded by the Fed and others that these lending agencies that were created during the crisis, that we will eventually will get that material, and I think that's what they say they can do. But it doesn't do anything about overseas lending, central banks and other governments, and what happens at the discount window. None of that will be audited.