Bernie Sanders Changes Audit the Fed Amendment, Dodd Now Cosponsor
Here’s what Bernie Sanders just said from the floor of the Senate, announcing that he is changing his amendment:
SANDERS: In other words, Mr. President, we now have 59 senators who, as part of the budget resolution, voted on this issue, 320 members of congress, the house, two u.s. courts that have all told the Fed in no uncertain terms, give us transparency. That’s what we’ve got Mr. President. As I wind down and conclude my remarks, let me just simply say that I thank very much all of the support, all the grass-roots support from progressive and conservative groups and from my fellow senators. The American people have a right to know when trillions of their dollars are being spent and who got it. The American people have a right to know whether there are conflicts of interest. Mr. President, I would ask my colleagues — there’s so many cosponsors, I won’t even mention them all. But I just want to thank all of them. let me just conclude by saying that i am very proud to say that we have been working with Senator Dodd’s office and some other offices and I’m going to ask that my amendment with modified with the changes are at the desk, and i’m proud to say that these modifications have been worked out by Senator — with Senator Dodd and would allow the GAO to conduct a top-to-bottom audit of all of the Federal Reserve’s emergency lending activities since December 1, 2007. In addition, the modifications require the fed to put on its web site all of the recipients of over $2 trillion in emergency assistance since December 1, 2007.
Dodd then said: There was a concern about whether or not the independence of the Fed in any way would be compromised and he has guaranteed with his language here that that is no longer an issue whatsoever. And I want to thank him for it.