Wikinvest Wire

Panel votes to audit the Fed

Thursday, November 19, 2009

MarketWatch reports that, much to the dismay of Fed chief Ben Bernanke, the House Financial Services Committee approved a measure sponsored by Rep. Ron Paul (R-Texas) that would require the government to audit the Federal Reserve.

Ron Paul's provision was opposed by Rep. Barney Frank (D-Mass.), the committee's chairman who preferred a less intrusive measure proposed by Rep. Melvin Watt (D-N.C.) in a surprising turn of events given how things looked the other day. For more, see Google News.

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Anonymous said...

Strange stuff happening today:

- Obama talks about double dip recession.
- CNBC talks about double dip recession.
- CNBC quotes shadowstats 17.something unemployment (a first)

Could it be:

- FED about to be audited
- Health Care is stalled
- GS is now set up to profit from a market crash (is short)

I think that a market crash would work in favor of Obama, Federal Reserve to push through their agendas and to get public support to "fix" the crisis.

CNBC is owned by GE who's CEO sits on Obamas "recovery board"...

Just saying, the players at the top are few and very related...

anon2 said...

Anon - a W recession is all but certain. Commercial real estate will crash big next year, which will further crash residential. Even the prime stuffs are beginning to get hit. Add the above to a very jittery dollar market, inability of US to issue more debt, a few more % of unemployment and you have the perfect storm. Tie yourself to bomb shelter. Or get out of the country for a while.

Anonymous said...

4 trillion is way too much. Take it back to the 1 trillion it was at last year. Remove the printing already, before it is too late.

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