Rosenzweig
07-30-2012, 06:09 PM
Dear Mr. Rosenzweig:
Thank you for contacting my office regarding the Federal Reserve Transparency Act of 2011 (S. 202). I appreciate your taking the time to share your concerns with me.
One of my highest priorities as a United States Senator is to improve government transparency and accountability. In this regard, I cosponsored an amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 that expanded auditing of the Federal Reserve. As a result of that law, in July 2011 the Government Accountability Office issued an audit of the Federal Reserve’s emergency lending during the financial crisis. For additional information on the audit, please visit http://www.gao.gov/products/GAO-11-696.
As you may know, the Federal Reserve Transparency Act of 2011 directs the Comptroller General to complete an audit of the Board of Governors of the Federal Reserve System and the Federal Reserve banks, followed by a detailed report to Congress. This legislation has been referred to the Senate Committee on Banking, Housing, and Urban Affairs, where it is currently under review. Please be assured that my staff and I will monitor the progress of this legislation in order to ensure that the best interests of Virginians are taken into consideration.
As the U.S. Senate continues to debate economic and finance issues, please be assured that your views are helpful to me and my staff. I hope you continue to share your thoughts with us in the future.
I would also invite you to visit my website at www.webb.senate.gov for regular updates about my activities and positions on matters that are important to Virginia and our nation.
Thank you once again for contacting my office.
Sincerely,
Jim Webb
United States Senator
JW:kw
What do you guys think about this?
Thank you for contacting my office regarding the Federal Reserve Transparency Act of 2011 (S. 202). I appreciate your taking the time to share your concerns with me.
One of my highest priorities as a United States Senator is to improve government transparency and accountability. In this regard, I cosponsored an amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 that expanded auditing of the Federal Reserve. As a result of that law, in July 2011 the Government Accountability Office issued an audit of the Federal Reserve’s emergency lending during the financial crisis. For additional information on the audit, please visit http://www.gao.gov/products/GAO-11-696.
As you may know, the Federal Reserve Transparency Act of 2011 directs the Comptroller General to complete an audit of the Board of Governors of the Federal Reserve System and the Federal Reserve banks, followed by a detailed report to Congress. This legislation has been referred to the Senate Committee on Banking, Housing, and Urban Affairs, where it is currently under review. Please be assured that my staff and I will monitor the progress of this legislation in order to ensure that the best interests of Virginians are taken into consideration.
As the U.S. Senate continues to debate economic and finance issues, please be assured that your views are helpful to me and my staff. I hope you continue to share your thoughts with us in the future.
I would also invite you to visit my website at www.webb.senate.gov for regular updates about my activities and positions on matters that are important to Virginia and our nation.
Thank you once again for contacting my office.
Sincerely,
Jim Webb
United States Senator
JW:kw
What do you guys think about this?