Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

DAR
Lv 7
DAR asked in Politics & GovernmentPolitics · 1 decade ago

I'm shocked! Shocked, I say! "Fed Audit Bitterly Opposed by Treasury!!" Would you ever have predicted that?

http://www.huffingtonpost.com/2010/03/08/fed-audit...

" The Treasury Department is vigorously opposed to a House-passed measure that would open the Federal Reserve to an audit by the Government Accountability Office (GAO), a senior Treasury official said Monday. Instead, the official said, the Treasury prefers a substitute offered by Rep. Mel Watt (D-N.C.), and would like to see it enacted as part of the Senate bill.

The Watt measure, however, while claiming to increase transparency, actually puts new restrictions on the GAO's ability to perform an audit.

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.

HuffPost reporter Sam Stein lodged what he called a "formal complaint" against the ground rules. The complaint was noted and the briefing began.

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. "

What do you think?

Oh, and for those who complain about this being from Huff Po, only the liberal bloggers were invited to this Treasury/Fed confab.

So, reactions?

Update:

SilverPhoenix, I plan to look at when I have a bigger block of time all at once. Encorecapital financialgroup etc....have it written down.

21 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    My friend, I agree that something should be done about the Federal Reserve’s uncontrolled printing money out of thin air. But if they stopped printing to cover our Federal and state deficits and giving it away to the World Bank the whole world’s economic system would crash in three days. Our economy stinks but the rest of the world stinks worse. That is the only thing holding up the value of the dollar. What the Federal Reserve has done and is doing is buying us some time.

    The time is supposed to be for the federal government to either correct the deficit problem or prepare for a complete currency destruction/collapse. It has become obvious that the politicians have only made matters much worse. That’s all the Federal Reserve is doing is buying time, it much too late to save the currency. You are right about everything you say in its essence. There are some things we don’t really know for a fact and we will probably never know. I also agree with Ron Paul when it comes to the Federal Reserve. I studied the history of economics and currency more than 30 year ago and Ron Paul is right. I really like that old guy.

  • R J
    Lv 7
    1 decade ago

    Figures and not shocked, would blow the entire scam out to the water, could you see the shucking and jiving during the hearings. It's a dirty big secrets, you know this year the lobbyists and others will reach $4 billion* to the House and Senate members and from what I can tell the ruling is going to allow them to buy air time so it will be more cash for them, unless that is just for the party guys. ironic that the lobbyists may just be saving us from some pretty costly and unknown bills. You got a ton of great answers, but wanted to throw in my two cents. Figures they only had the libs, they love to set it up that way. If they go to black and white film and start using a lot of shadows, watch out.

    But I was shocked. not sure if you have seen the far right wing radical show n Fox news called Red Eye, but yesterday they had the clips of President Obama in front of those people at he latest staged Obama care speech. Well those Red Eye people dubbed in canned laughter like on Leno and Letterman, so right after the President made a statement about healthcare or something, they would play the laughing which went hand in hand withthe aactors, i mean people behind him jumpinig up and clapping. It was SHOCKIING, but he did get more laughs than Letterman. Now that I think about what he was sayng maybe it wasn't dubbed.

    Actually it is one a late night sorta comedy show on

    Fox and sometimes pretty funny. They do have this space alien that has a rock band and you know the guy makes sense, but I don't think he could run for pres. ha, ha. Wait, then again.

    Wonder if Timmy has a lassie to help him, he suremay need on in a few years. just kidding.

    Source(s): *opensecrets.org
  • Anonymous
    5 years ago

    Yes its true. Caste system did exist before but the purpose and the way it was managed was totally different. People were divided into different castes according to their nature of work. This was very important for the smooth functioning of a society. There was no hatred in this system. Each caste had its own particular importance and significance. For ex. if Shudras did not exist, the whole cleaning system of the society would stumble . Similarly Brahmins were responsible for the education system, the Kshatriyas for the security of the city or state and the Vaishyas would deal with the business. So it was not according to birth initially but according to the nature of work. But slowly the Britishers using their divide and rule policy fanned the sentiment which showed hatred towards the lower castes. It would benefit them, since they would recruit the lower caste people and convert them to Christians. Since the lower caste people did not get any respect in Hinduism, they would get converted easily. Sati pratha was already stopped by Prahlad Maharaj. When Hiranyakashapu was killed, he did not let her mother jump in the flames of her husbands pire. So I don't know who instigated it to start again. Before the Britishers came, India was called 'golden bird'. The Britishers looted and stole everything making India poor. I don't think India is trying to get back her lost glory. I would have been very happy if India did so. On the other hand its becoming more and more westernised. India may be able to improve her financial backwardness but it has lost its spiritual heritage. The situation may improve if educated youngsters who are spiritually advanced make efforts.

  • Anonymous
    1 decade ago

    "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. "

    = = = = = = = = = = = = =

    Ever see a stray cat get really pitsed off? Over something as far gone as rancid tuna?

    Bingo.

    ...

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    It is more business as usual for the thieves in Washington DC who sell off our future for their short term gain. The cries to audit the fed while loud at first have been all but drowned out by the attempted health insurance takeover protests, fighting more stimulus, and opposing cap & tax. It seems they've put too many things on the table for our "fringe group" to demand focus on a fed audit because even many who support it don't realize it is just as important as fighting off the health insurance takeover. We've got to get people fired up about an audit again or this issue could be buried until it's too late.

  • 1 decade ago

    Shocked? Furious is more like my reaction. I am sick and tired of people calling those who know the truth about what the Fed and the Govt. are doing, conspiracy theorists. Anytime their unconstitutional actions are questioned, they shout 'foul' 'conspiracy' 'tin-foil hats'. Some people are now opening their eyes, and kudos to Ron Paul and Alan Grayson for taking the punches over and over again. If people really knew how dangerous the Fed is and that it's policies will be the ultimate destruction of the US as a sovereign nation, there would be a revolution. However, they will continue their deception until it is far too late.

  • Yeah some people are nuts.

    The Federal Reserve is an illegal, privately-owned organization that funds world dictators.

    There is perefect sense backing the audit.

    Support HR 1207

    Support S 604

    Source(s): Ron Paul Revolution! Legalize the Constitution! http://www.campaignforliberty.org/
  • ?
    Lv 4
    1 decade ago

    They'll get audited about the same time as Acorn. Right after they try the Black panthers that stood in front of the polling places and right before Geitner and Wrangle. I hope those young kids that exposed Acorn are judged by the same rod.

  • 1 decade ago

    Yes isn't that where 2 billion dollars disappeared, Loved the guy on t.v. tagging the fed building, audit me!! so this is what its coming to, people are mad and taking to the streets, and buildings, its about time, because if people are not raving mad, they are not paying any attention at all.God Bless America

  • Nikki
    Lv 7
    1 decade ago

    I can't believe the Fed was never open to the GAO in the first place. Long overdue.

    & why would they object if therewasn't something to hide?

Still have questions? Get your answers by asking now.