Well that didn’t take long. Just days ago, I posted this video in which Barney Frank, questioned by a constituent, expressed support for Ron Paul’s audit of the Fed. He’s now talking about a compromise:
“WASHINGTON (Reuters, Sat Aug 29, 8:23 pm ET) – Rep. Barney Frank, the chairman of the U.S. House of Representatives Financial Services Committee, hopes to craft a compromise bill with lawmakers who want to open Federal Reserve monetary policy decisions to audits, a spokesman for Frank said on Saturday.
A bill sponsored by Texas Republican Rep. Ron Paul that would allow the Government Accountability Office, a federal watchdog agency, to audit Fed interest-rate decisions has won the co-sponsorship of more than half of the House.
Fed Chairman Ben Bernanke has warned the bill would compromise the U.S. central bank’s policy-making independence and could undermine financial markets and the economy.
The Financial Times reported on Saturday that Frank hoped to bring forward compromise legislation that would safeguard the Fed’s independence, while enhancing transparency and creating checks and balances for the central bank’s use of emergency lending powers.
Steven Adamske, a spokesman for Frank, told Reuters the congressman would work with Paul on a compromise bill. He said compromise language had not yet been written and provided no further details. A spokesman for Paul could not be reached….” (Read more from dailypaul.com)
If it doesn’t reveal an answer to this question, then the compromise bill is bullshit: WHO GOT THE FUCKING MONEY???
(independence my ass)