Posted by Matt Hawes on 03/09/10 2:21 PM   [Newer: Immigration Debate Renews ID Card Plans] [Older: Liberty Forum 2010]

Sounds like all the more reason to keep pushing.

The Huffington Post's Ryan Grim reports:

Secretary Tim Geithner, Assistant Treasury Secretary Alan Krueger and Gene Sperling, a counselor to the secretary, held a briefing Monday with new media reporters and financial bloggers during which they discussed the Fed audit and other topics. Under the briefing's ground rules, the officials could be paraphrased but not quoted, and the paraphrase could not be connected to a specific official....

That's leadership!

Asked whether he supports the House-passed measure to open the Fed to an audit, which was cosponsored by Reps. Alan Grayson (D-Fla.) and Ron Paul (R-Texas), a senior Treasury official said he is intensely opposed to it.

The official said the measure would undermine the independence of monetary policy and could restrict the ability of the Fed to act in times of crisis. He said that the GAO already has audit authority and that the chairman routinely testifies before Congress....

Read the rest.

Posted 03/09/10 12:08 PM Al Langhans Elizabethville, PA

So the GAO already has audit authority and thats ok. But a different kind of audit will undermine the independence of monetary policy and could restrict the ability of the FED to act in times of crisis. Hypocrite. And this from the article: "A lack of independence, he said, could lead to inflation and otherwise undermine PROGRESSIVE priorities." Thats why we need a FULL Audit to show the people how corrupt the FED really is.

Posted 03/09/10 1:15 PM BruceKoerber Cedar Rapids, IA

http://educationandethics.blogspot.com/ Tuesday, March 9, 2010 Auditing The Federal Reserve Will Uncover Many Crimes. Asked if he would like an investigation into his unscrupulous activities he said no! Standard question and standard answer. Liars lie, thieves steal, embezzlers embezzle, schemers scheme, and murderers kill. This is not the way to go about doing things. Let's ask the media if it is their job is to investigate all of the corruption associated with the unConstitutional coup or to do the bidding of the unConstitutional coup. Most will cowardly and greedily continue their unethical pandering but a few may crack open the rotten eggs for all to smell.

Posted 03/09/10 2:17 PM filosophia Columbus, OH

so that's why news stories always say "an official said" rather than a specific person, because they are not allowed to! And we are asking these people for transparency when they ooze secrecy where ever they go? The government clearly is pandering to the people rather than giving us straight answers. If fed independence is so great, why not independence for all Americans? Once again their pseudo-logic only exposes how hypocritical they really are.

Posted 03/09/10 3:26 PM BigJohn Oak Park, CA

Whenever the government is so against something, you know we're on to something.

Posted 03/09/10 5:35 PM Isomies Mechanicsville, VA

You got that right Big John. I've always wondered, why can't I opt out of this nonsense? All these issues, if everyone wants to do these things, fine. But leave me out. They can't. They need everybody's submission or their plans won't work. That, and everybody's money.

Posted 03/09/10 6:31 PM ticsani Boca Raton, FL

When the farmer asked the Fox (Fed) why it was in the hen house eating (stealing) chickens. The Fox (Fed) responded; don't know, they ran into my mouth. The Fox (Fed) is delusional...

Posted 03/10/10 09:52 AM Willij4lib Everett, WA

Of course they don’t want an Audit, this would totally undermine secrecy and expose the criminal acts of so many. Since secrecy is the one element all criminals feel the need for then the only action left to take is AUDIT THE FED!!! We need to show this country that crime does not pay and this includes elitist criminals in high places living amongst our law makers. Those who do not do criminal activity have no reason to have or hide secrets now do they?