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Does anyone think we need the Fed?

This is a discussion on Does anyone think we need the Fed? within the Economy forums, part of the US Discussion category; Quote: Originally Posted by rubberhead Has anyone heard about the effort to derail S. 604? The senate is trying to water it down so that ...


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Old 10-22-2009, 11:51 AM
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Quote: Originally Posted by rubberhead View Post
Has anyone heard about the effort to derail S. 604? The senate is trying to water it down so that the GAO can only audit the Fed during a crisis. I hope they don't succeed.
Yes. It's called the Federal Reserve Accountability Act, which essentially allows them to audit the TARP funds. But it wouldn't allow for as thorough an audit as 1207/604, and should therefore be opposed.
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Old 10-22-2009, 11:54 AM
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no compromise on the fed audit.. no quarter.
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Old 10-22-2009, 11:58 AM
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Ifall of those companies can not pay the TARP funds back does that mean they are bankrupt but have not filed?
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Old 10-22-2009, 12:15 PM
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Interesting question... I wonder what their obligations to repay the TARP money are. I'm looking into it.
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Old 10-22-2009, 01:13 PM
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TARP watchdog: Full repayment 'unlikely' - Washington Times

Looks like repayment is unlikely... I still don't know what the TARP recipients' obligations are. They seem really ill-defined if at all.
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