Will Ron Paul ever have his way and win Congressional approval to audit the Federal Reserve?
The result would be interesting.
Bernanke’s Nightmare Audit Pushed for Romney’s Platform -- Paul, in an interview, warned that if Romney’s backers resist the effort, it could result in a politically distracting and messy fight in front of the national media. “It’s good economics and it’s good legislation, but it’s also good politics, because 80 percent of the American people agree with it,” Paul said. If Republican leaders “exclude it, I would think some of my supporters would be annoyed and feel strongly enough to take it to the floor under the rules.”
Romney Position Unclear
Romney’s position on the issue is murky.
While he says he backs a Fed audit, he has not formally endorsed Paul’s legislation -- which mandates a Government Accountability Office audit of the Fed...
‘Audit the Fed’ bill passes in the House with bipartisan support -- A bipartisan bill requiring broader operational audits of the U.S. Federal Reserve passed the House on Wednesday by a broad bipartisan margin.
The bill passed 327 to 98; all but one Republican and 89 Democrats voted yes. The bill will be considered under the suspension of normal House rules, meaning it required at least a two-thirds majority to pass.
The measure would permit government auditors to conduct deeper audits of the Fed’s monetary policy operations. Despite opposition from some Democrats and the Federal Reserve, the bill has at least 274 cosponsors, including more than three dozen Democrats facing difficult reelection campaigns...