Friday, January 28, 2011

Rand and Ron Paul Introduce Twin Fed-Audit Bills

Rand and Ron Paul Introduce Twin Fed-Audit Bills; Wall Street Journal

Sen. Rand Paul (R., Ky.) introduced U.S. Senate legislation Wednesday to audit the Federal Reserve while his father, long-time Fed critic Rep. Ron Paul (R., Texas), re-introduced similar legislation in the U.S. House.

“We must take a critical look at the Fed’s monetary policy decisions, discount window operations, and a host of other things, with a real audit–and not just pay lip-service to the idea of an audit,” Sen. Paul said in a statement. “It is more crucial than ever that we have real transparency at our own central bank.”

Sen. Paul said the bill would eliminate the current audit restrictions placed on the Government Accountability Office and mandate a complete audit of the Federal Reserve by a deadline. ...

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