The Fed Under Fire (VIDEO)

The Federal Reserve is one of the most powerful and secretive institutions in Washington, long considered beyond the reach of lawmakers. But now, as details emerge of how the Fed secretly doled out more than a trillion dollars during the financial crisis, a rare bipartisan movement in Congress demands that the Fed be held accountable.

WATCH:

Comments

[ejhickey]

03:24 AM on 07/21/2009

Alan Greenspan opposes this bill. What is he afraid of?

[noneIn2008]

12:30 AM on 07/12/2009

Yet we hear politicians wanting to turn over more control to the secretive Fed. Politicians grand stand very well, but they usually don't deliver.

[jsarets]

11:31 PM on 07/11/2009

I'll believe it when I see it. Everything I've seen so far indicates that the federal reserve is more powerful than the federal government. And even if they do "audit" the Fed, I expect it to be conducted with all the rigor and rigmarole of the so-called "stress tests" and followed by a reaffirmation of their overwhelming power.

[freelyb]

05:21 PM on 07/11/2009

It's a very good sign that this is a bi-partisan concern. I very much want to know which congressional members support these proposals, and who is willing work together from both sides of the aisle to get something meaningful done. These are the ones deserving of our support in the coming years.

[fairtaxnow]

03:25 PM on 07/11/2009

Support the Audit of the Federal Reserve HR 1207 and S 604.

[Rayme]

11:11 PM on 07/10/2009

If the Federal Reserve is not Audited and then ended, I see the United States of America, breaking up into 50 Sovereign States after the dollar collapses. Ben Bernanke and little Timmy Geithner have already stated on camera that they support a new global reserve currency. They are not looking to preserve the dollar.

[lastmanstanding99]

09:31 PM on 07/10/2009

If the Fed is not put under some sort of control, our economy will fall. Our representatives better start representing the people soon or they will not serve another term. The will of the people is being forgotten!