Barney Frank: Fed audit bill will pass in October

[Kevin_Kennedy]

House Financial Services Chairman Barney Frank (D-Mass.) says he's negotiating with Rep. Ron Paul (R-Tx.) to create mandatory audits of the Federal Reserve -- and that some kind of audit bill will pass the House in October as part of a bigger financial overhaul package.

Frank, who supports Ben Bernanke's re-appointment as Fed chairman, is walking a tightrope between supporting the administration and heeding the broad, bipartisan support for the Fed audit bill, which has 282 co-sponsors.

Barney: Fed audit bill will pass in October - Glenn Thrush - POLITICO.com

Likely to be watered down, I assume.

 

[ba1614]

Likely, but it's a start, hopefully. I'll give Barney credit where it's due, once we've seen the bill and he's followed through on it.

 

[Toro]

I'm not sure what is in the audit bill, but there should be no audit of the FOMC decisions. Injecting politics into the setting of interest rates is a tremendously bad idea.

 

[Kevin_Kennedy]

I'm not sure what is in the audit bill, but there should be no audit of the FOMC decisions. Injecting politics into the setting of interest rates is a tremendously bad idea.

Setting interest rates artificially is a tremendously bad idea.

 

[ba1614]

I'm not sure what is in the audit bill, but there should be no audit of the FOMC decisions. Injecting politics into the setting of interest rates is a tremendously bad idea.

I don't want that either, I would like the books opened up though.