Reuters
October 17, 2011
A congressional audit of the Federal Reserve’s 12 regional banks looks set to land this week with a whimper instead of a bang as energies and sympathies on Capitol Hill have shifted since the financial crisis that spawned the inquiry.
The study of the central bank’s far-flung network was mandated by the Dodd-Frank law that last year rewrote financial rules to try to prevent a repeat of the financial crisis.
Since then, however, Republicans have captured control of the House of Representatives, putting more of a focus on reining in a Fed which some lawmakers see as meddling in fiscal affairs than rooting out perceived cronyism at the regional banks.
2 Responses to “Once-anticipated Fed audit is losing steam”
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This news will add fuel to the rage against the FED! One way or another the people will end this looting. It is not going to be pretty either.
FUCK THE AUDIT… BURN IT DOWN!