Unable to whip the votes against Audit the Fed in the Senate, the White House prevailed upon Bernie Sanders to limit the audit to only going back to 2007, and Bernie complied. What does that mean? Scarecrow:
The key is not when they audit, it’s what the get to audit. They’ve excluded the workings of the Open Markets Committee where the decisions were made.
The incompetence occurred in the Fed’s FOMC, where they missed signals, squashed dissent, and showed they were fools or tools. What the GAO will get, in a not fully public form, is a peek at how badly insolvent the banks were when the Fed accepted their toxic assets and gave them cash instead. So we’ll get an accounting of how much looting occurred by not necessarily learn how the looting occurred or who designed it or covered it up.
And this is just the Senate. They’ll get another chance to expand the coverup in conference with the House.
Unanswered questions:
What’s shielded under the FOMC operations?
- 1. Transcripts of meetings and staff input? We don’t get those for five years, if then.
- 2. Authorization for bailing out the foreign banks?, because that wasn’t done through the other mechanisms that might be audited.?
- 3. Policies/directions wrt to accepting toxic assets for cast?
We could get a bunch of numbers that all add up, but even those could be in aggregate form, which is how you hide individual culpability while claiming you’re protecting proprietary information (shielding a bank).
Bernie was evidently on CSPAN this morning saying that they’d make changes in conference too. As Michael Whitney said, Bernie “held out longer than when he screwed us on public option.” I guess that’s progress.
Update: Text of the updated amendment AYO10C67




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That’s not bloddy progress. That’s just more proof that we need to call out Sanders on his fake progressive stances. I’m also sick of him calling himself a socialist. He is NOT a socialist in any definition of the word, and as someone who actually considers himself one I wish he would just shut the hell up.
When do we publicly call out these people? The firedogs, Sanders, all of these lying fake progressives. When do we call them out publicly?
I know you wanted ot wait a few weeks after healthcare Jane. Well it’s been enough time I feel. If we don’t show publicly how theere is no such thing as a real progressive in our government now all of this shit on Finreg will happen just as it did on HIR.
Bernie Sanders, Bernie Sanders, one day you will practice what you teach and preach until than we get to watch you cave.
it was once said a man that does not stand for anything, will fall for anything. what will stand for Bernie?
Public Option? No
Drug Importation? No
Audit the Fed Open Market Committee? No
I totally agree with you.
there is not one true progressive in congress
Ah, but when we do, the enablers who have taken over Daily Kos start calling us “firebaggers”. ;-p
What’s in it for Bernie?
That’s snark by the way.
It’s disgusting.
Well the bedlam over there has me dreaming of (b)rains… over here!
This is the original S604 for comparison:
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:s604is.txt.pdf
Independence of the Fed is needed under the current system for it to work as a monetary policy setting body.
Sanders now preserves that independence.
I am for embarrassing the fools that refused to regulate and allowed the financial crisis to build, but until someone suggests a replacement for the current monetary setting/controlling process, this is a good audit bill. Besides we get to see why the Fed bought Red Roof Inns (Maiden Lane in the story) and is refusing to say if they are converting to equity the bond holding in that hotel chain that they got for their real dollars! We will have months of stories like this – it should be fun – provided Sanders does not get watered down in conference.
Indeed.
Well played, KC!
And we should all wear “firebagger” as a badge of honor.
Jane –
Any chance this could get toughened back up in the conference committee with the house? (A combination of Dems facing re-election and pressure from Ron Paul.) Or am I suffering a momentary case of delusion?
So, why is Obama hiding this stuff. This happened under the shrub administration. Is this yet another attempt to look non-partisan? If so, it isn’t going to get him anything of substance from the Repugnants.
incorrect pdf link for the text of the amendment
Back to 2007? Even if it’s 12/31/2007, it’s still bullshit. The really big, high panic deals went down about a year later…and some even longer than that. How friggin’ stooopid does the WH think we are? This is insulting, even by the standards we’re seeing these days.
As for Bernie, what do you suppose they have on him? Or what is being promised? Or both?
RP needs to crush this compromise quickly and loudly. Lets hope he does hurt himself in the process of being loud.
The link for the ” Text of the updated amendment” goes to a 2004 action of the House and not the updated Senate amendment.
And excluding “open market operations” does not necessary exclude auditing the FOMC actions related to the lending to the banks in question. Open market operations generally refers to actions to affect interest rates or money supply.
I never expected this amendment to dig into Greenspan’s vow of secrecy when the banks started going down. Just to answer why bank X got $Y on Z terms and who participated in the decision.
Two words: Timothy Geithner
Two other words: Ben Bernanke
Sanders said it was going to be changed in conference this morning on CSPAN.
CENTRIST THIRD PARTY! The Clean Sweep People’s Party, or some such.
We gotta stop begging them to stop beating, not only us, but all regular Americans.
If we won’t mount a frontal assault now, we deserve to remain serfs. And we will.
“People vs. Big Corporations” should be the party slogan. I’d bet my testicles that could get a majority now. There’s no excuse for trying to play the inside game anymore.
Things never ever get more progressive in Conference. “We’ll fix it in conference” is a joke with this corporatist Democratic party.
Any word on this evisceration from Ron Paul and Alan Grayson yet?
Jeez louise… with that simpering fidgety ass kissing demeanor, I mean… needing a haircut, what kind of example is that to offer up to the captive audience of pundit central? He should feel jumpy about whether that’s a good way to stand up for a cause: socialism, as the minority of one.
Some standard that is. What possible way can he pretend to be a ( pimple on… oh… [Castro's ... etc.] pattute?
Job one… jobs! my job, class clown.
Cave cave cave… = neanderthal.
Recall how hard Nixon fought to keep the Pentagon Papers secret, even though they exposed the wrongdoing of the Johnson Administration. Presidents look out for their own, and for ‘the institution’ of the Presidency.
Same thing here — Tim Geithner says “don’t audit the Fed” he means “don’t audit me!”
According Ryan Grim at HuffPo, this text is in the revised amendment:
This is separate from any GAO audit.
And Nixon insisted that major damage would be done if the papers were made public. Didn’t happen, and I presume the same would be the case here. You’re right. The people trying to keep these books locked up don’t want their transactional machinations ever to see the light of day.
Is there a chance that Feingold’s threat to filibuster fake reform wasn’t hollow?
Oh I wasn’t trying to call you out Jane.
I recognized the snark when I saw it.
I do believe what I said tho. The left needs to actually stand up and say “hey these prople pretending to be lefties don’t actually speak for us”.
That would involve you being able to believe a Senator’s word..so probably not
Notice the posting date for the report on who got what: Dec. 1 of this year.
Conveniently after the election.
And on the same date that the catfood commission will report its recommendations to gut Soc Sec and reduce Medicare.
I don’t give a shit what the Kossacks call us.
Damn right I’m a firebagger. It means I’m sane and don’t just buy into Democratic party propaganda.
If We’re not pissing the Kossacks off we’re not doing it right. And Anytime I can piss off a Reaganite CIA lackey like Kos, I feel like I accomplished something that day.
Probably not?
How about definitely not?
I going to have to go with no.
Ok, enough opinion, some facts.
Here is the U.S.C. being referenced by both Sander’s amendment and H.R. 1207.
Here is H.R. 1207 (Grayson/Paul).
It appears to me that the House legislation is open ended; “In General- Subsection (b) of section 714 of title 31, United States Code, is amended by striking all after `shall audit an agency’ and inserting a period.” (reflecting Paul’s desire to do away with the Fed) while Sander’s amendment is much more focused on the bailout monies and actions taken after Dec. 2007.
And this seems very good language:
“(c) PUBLICATION OF BOARD ACTIONS.—Notwithstanding any other provision of law, the Board of Governors shall publish on its website, not later than December 1, 2010, with respect to all loans and other financial assistance it has provided during the period beginning on December 1, 2007 and ending on the date of enactment of this Act under the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Term Asset-Backed Securities Loan Facility, the Primary Dealer Credit Facility, the Commercial Paper Funding Facility, the Term Securities Lending Facility, the Term Auction Facility, Maiden Lane, Maiden Lane II, Maiden Lane III, the agency Mortgage-Backed Securities program, foreign currency liquidity swap lines, and any other program created as a result of the third undesignated paragraph of section 13 of the Federal Reserve Act— (now WTF does an undesignated paragraph mean?)
(1) the identity of each business, individual, entity, or foreign central bank to which the Board of Governors has provided such assistance;
(2) the type of financial assistance provided to that business, individual, entity, or foreign central bank;
(3) the value or amount of that financial assistance;
(4) the date on which the financial assistance was provided;
(5) the specific terms of any repayment expected, including the repayment time period, interest charges, collateral, limitations on executive com14
pensation or dividends, and other material terms;
and(6) the specific rationale for each such facility or program.
Overall, it’s better than HIR and just to remind everyone what I.F. Stone said, “All governments lie”.
government criminal secrets
extortion blackmail bribery
media criminal secrets
gushing to the surface
financial mass murder
The Obama/Democrat political leadership is just appalling in light of what they could have been, and in light of all the terribly serious problems and catastrophes they are responding to.
Just so people understand how the Fed was created and why it’s NOT independent and how these lobbyists and fake astroturf groups work, here is a video lecture by the late economist Murray Rothbard from 1984 (aprox. 1 hr):
http://www.youtube.com/watch?v=Ta7q1amDAN4
“just appalling in light of what they could have been,”; amazing isn’t it?
Well done. glad to see the contribution.
I have a different take Jane. I do not believe the Fed is incompetent nor that they missed the warning signs. They knew/know exactly what they were/are doing. It is part of the globalization process. The Bank for International Settlements (BIS). the World Bank, the IMF, the World Trade Organization, the US Treasury and all the central banks around the world work in concert. This is not conspiracy theory. This comes from Joseph Stiglitz, Nobel Laureate, former Chief Economist of the World Bank and Chairman of the President’s Council of Economic Advisors during the Clinton administration. Much of this is covered in detail in Naomi Klein’s book, Shock Doctrine. I have been following this for years. It is insidious and far, far worse that most people realize
Investigative journalist Greg Palast Interviewed Stiglitz about this in 2001. Parts of it appeared in The Observer (London). Here is what Greg reported.
http://www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
I’m trying not to lose track of the proceedings to comment, but something’s gone suspect on the floor of the Senate for the last hour or so:
Harry Reid moved to have the Sergeant At Arms round up Senators to make up a quorum (apparently after pretending that the latest, of their non-stop, utterly-routine fake quorum calls, which suspend the business of the Senate, was instead a live quorum call that demonstrated that there was no Constitutionally-required quorum present).
The voting has essentially been over for more than half an hour, has made up a quorum, and yet the Presiding Officer hasn’t been given the sign to announce the result.
Meanwhile, the vote, that I believe was scheduled to be taken by now on the Sanders modified Audit the Fed amendment, can’t take place, and neither can any debate on any other amendment, or any other Senate business…
???
Here’s Reid now, finally, ready to speak, with a quorum officially present:
http://www.c-span.org/Watch/C-SPAN2_wm.aspx
It’s a good thing this body is functional again.
Jane, so what would you prefer? Having Sanders stick to the original bill and getting no audit at all? You realize, I hope, that if there is pre-2007 nastiness that needs to be covered up, the Republican leadership will have their troops in line to shut things down.
Sanders hasn’t helped Obama shield anything, because once all the abuses from 2007 forward come out, they will expose enough loose ends to help create political pressure to investigate what happened before.
I’ll take an audit from 2007 forward as a good first step. You should too, unless you’re determined to be purer than anyone and hate every elected official.
Or not…
Harry Reid immediately implemented a (fake) quorum call, as soon as the presence of a quorum was formally announced by the Presiding Officer…, and he was recognized, while he continues to consult about something with someone(s)…
“We were at a meeting today, and we were told [by Secretary Gates] that we had to pass the war supplemental before we leave here…” - Harry Reid, unbelievably, just now.
Now talking about the Brown/Kaufman amendment, with only 5 minutes of debate time, per Senator Brown…: That amendment will be up for a vote TONIGHT.
Will not have votes tomorrow OR Monday… [Senator Dodd was willing to have votes this weekend...]
Senator Shelby has been gracious all day on this – it’s his birthday… – H.R.
Unanimous Consent Agreement for the following votes tonight, from Reid:
Cantwell amendment as modified, by voice vote
Brown/Kaufman with an Ensign second-degree amendment
Democratic side-by-side to McCain re GSEs, and both decided tonight by voice vote
[And nothing else. What happened to Audit the Fed??]
Cantwell set aside the pending amendment, and is proceeding with her amendment…
For those who don’t know much about monetary policy and the importance of it, there is a thought provoking video entitled The Secret of Oz: The Money Makers that is free to view online.
The video oped discusses the problems of our monetary system, which is based on debt borrowed from private banks. The history of money is reviewed and banking is linked to such events as the War of 1812, the Civil War, and the assassination of various presidents. Solutions are presented in the last 20% of the movie at 1:27:52. To maintain layman interest the monetary symbolism written into the Wizard of Oz is advanced.
I enjoyed it and learned some things.
Please stay with it, powwow.
Yes, thank you. WTF.
Someone probably knows what’s going on with regard to a vote on Audit the Fed, but I don’t anymore, at least until I can see the Congressional Record tomorrow.
Audit the Fed, as modified, was the pending amendment before the Senate from mid-afternoon until about 15 minutes ago, and yet no vote was taken on it after most or all of the debate time on it (provided for by unanimous consent, I believe) was used, and now a vote won’t be taken on that amendment until next Tuesday at the earliest…
Sherrod Brown is now introducing the Brown/Kaufman Too Big To Fail amendment, on which a vote will be taken within the next fifteen minutes or so. [Ensign's second-degree amendment adds Fannie Mae and Freddie Mac as entities covered by Brown/Kaufman.]
Mark Warner opposes Brown/Kaufman (and the second-degree amendment).
Chris Dodd also opposes Brown/Kaufman (and the “rushed-through” second-degree amendment): ‘97% of all mortgages go through the GSEs now in this country – there would be no housing market without them. Too complex an issue for this bill.’
Ensign: ‘[Dodd] just made the case that Fannie Mae and Freddie Mac are Too Big To Fail.’
Judd Gregg opposes Brown/Kaufman.
Roll call on Ensign second-degree amendment under way…
Kucinich folds like a cheap suit. Sanders folds like a cheap suit. I’m running out of heroes.
Dagnabbit, Bernie, why did you do it?
Russ Feingold voted for the Ensign second-degree amendment, while Scott Brown of Massachusetts and Kaufman voted against it… Voting continuing.
Pardon my ignorance, but I don’t understand what you meant by snark? Did you think the Inquisitor comment at #1 was disgusting, or rather the quote from Michael Whitney in the article? Personally I agree with #1′s frustration at the perpetual caving of Sanders and other “progressives”….please explain what I missed? (I am fairly new to this site). Thanks!
Ensign second-degree amendment fails, 35-59.
Brown/Kaufman roll call underway…
(edit: Thanks powwow, I was just asking what amendment this is; never mind.)
Except he was pretending to lead here rather than simply strongly support the PO. The general impression seems to be that the only reason any of the pretend liberals in the Senate lead on an issue is to glom the best of the lobbyist stash as they trade trinkets for legal protection. He probably held out longer as long as the bids kept coming in. Congress should setup their own eBay in order to improve efficiencies.
I just love it when he says Crapo.
LOL! Maybe that would help Meg Whitman recoup some of the money she’s pouring down the drain in her bid to replace Arnold.
WTF, Brown amd fails!
The Brown/Kaufman amendment:
Republicans voting Aye that I caught: Ensign & Shelby…
Democrats voting No that I caught: Akaka, Baucus, Bayh, Bennet, Carper, Dodd, Feinstein, Gillibrand, Hagan, Kerry, Klobuchar, Kohl, Lautenberg, Lieberman, McCaskill, Menendez, both Nelsons, Reed of RI, Schumer, Shaheen, Tester, Udall of CO…
Voting continuing.
http://www.c-span.org/Watch/C-SPAN2_wm.aspx
On edit: Brown/Kaufman fails, 33-61.
And they’re outta there.
The
rentboys and girlfrom CT, NY and NJ come out bravely on the side of the banksters.The Senate’s now adjourned.
[There will be a non-voting morning session tomorrow with most Senators absent, and then a non-voting afternoon or evening session Monday, also with many Senators absent, before voting resumes next Tuesday. Senator Dodd will be in Washington all weekend to work with any Senators wishing to offer amendments to this legislation.]
Thanks, powwow, for your careful attention.
Does anyone actually believe that this system can be “reeformed?”
1. Called Klobuchar’s office a minute after her vote was announced and said I would do everything in my power to make sure she does not get re-elected. Even though she’s still got two years to go, I sense this is going to be similar to the “war” vote – not gonna be able to shake it off, even in two years.
2. Have no idea what happened to her except…she has become a Water Girl for Bush III…oops, I mean Obama. Integrity. Is. Gone.
3. Listened all afternoon to the speeches, and have gotta be honest: McCain and Ensign made sense to me re: Freddie and Fannie. I see Feingold voted for the Ensign amendment (Fannie and Freddie need to be downsized using same criteria as TBTF banks.) With 97% of all mortgages originating from them (uh, monopoly?) and the depth and breadth of corruption going on there for decades…lots of details in McCain’s comments that really laid things out. Lots. It was actually well done.
4. Unfortunately, a similar fate as TBTF amendment.
You’re most welcome.
Normally Sanders appears on the Thom Hartmann show on Fridays from 12-1pm Eastern. You that are frustrated with Sanders can ask him on radio why he backed off, or just accuse him of folding.
1-866-987-THOM (8466)
I think the answer is neither. ["I guess that's progress" was Jane's sarcasm/snark.] It’s clear to me that by “it’s disgusting” Jane was referring to what she perceives Sanders to have done with modifications to his Audit the Fed amendment, in response to White House pressure (presumably conveyed through Dodd and/or Emanuel). So you and Jane are very much in agreement.
We’ve got things backwards. We need people like Powwow, Seymour, Hugh, Larue, Jane, Scarecrow, Marcy, Razorbrain, TarHeelDem, Teddy P, Transparit, Librty, Inquisitir, Phoenix Woman, Thefutureisnow, etc., in Congress. We need the evil people now in that institution reduced to commenting on blogs.
You guys didnt really think Uncle Bernie was serious did you? Silly Kids tricks are for Bernie.On a serious note, take a good long look at Greece bcz one day that is going to be us.
Despite the failures so far of some good and important amendments, and what appears to be the attempted backroom subversion of another good amendment, believe it or not, Chris Dodd is managing to pull off something impressive here, that’s rarely seen in the Senate anymore: A genuinely-open amendment process with simple-majority voting thresholds on a major, politically-powerful piece of legislation.
That is no small thing, in an institution that has become the punching bag for two warring Parties interested mostly in scoring political points for the TV cameras, and whose members really no longer even know how to debate substantive issues on their merits, in detail, on the floor (as opposed to making sales pitches from scripts, or winning arguments against an empty chair), which a good amending debate requires.
Harry Reid periodically appears to bluster and threaten the Republicans with his majority power of shutting the whole process down {“I can be patient” he says, meaning: “I don’t have to be patient, you know…”), obviously itching to get back to his usual autocratic routine – tabling amendments instead of debating and voting on them, filing cloture motions to end debate and amending prematurely (and then blaming the Republicans for forcing him to, by “obstructing”), imposing artificial supermajority voting thresholds on amendments, filing the “side-by-side” amendments that are basically “messaging” amendments by each Party, where each side refuses to engage with the other in good faith on the substance of their amendments, and, when things get really drastic, filling the amendment tree to prevent floor amending altogether, etc., etc. Power corrupts, and Harry Reid very much likes his powerful perch atop the Senate that his majority Pary unquestioningly gives him.
In contrast, Dodd has been working tirelessly to rebuild the trust between members of the different Parties, and to get the Senate to try to work like a Senate again at last. The progress toward that goal has obviously been halting, as many Senators clearly can’t be bothered to even read the bill, never mind to offer amendments or otherwise attend to the debate. [While some minority Senators, like Tom Coburn, with important complaints about the bill, irresponsibly act as though they have no part to play in improving the legislation by amendment, perhaps from long habit of being shut out by supermajority, and Party-line, voting habits.] Harry Reid is obviously one of the ones leading the charge out of Washington this weekend, in pursuit of re-election, rather than keeping the Senate in town to do its important business (which everyone agrees there are signficant time pressures on), as Dodd wanted, and which Reid should have bucked the slackers to do.
As a result of Dodd’s laudable efforts, the Brown/Kaufman amendment got a fair shot at passage by simple-majority vote, and a roll call vote for the record, for all of us to see. Dodd let that amendment, and others he personally disapproved of, through in the name of the democratic legislative process of the Senate, and I applaud him for that.
I trust Dodd will ensure that Audit the Fed likewise eventually gets its vote on the floor, but some major pressures were apparently brought to bear on that amendment at the last minute today, preventing it from receiving a vote, perhaps because Sanders sprung the modifications so suddenly, and without sufficient explanation to the public (and perhaps even to his co-sponsors).
Thanks, powwow. Nothing short of amazing, you are.
he voted for the greater good. we cant handle the truth. so we only get half truths.
From dday, in one of his threads, where I’d wondered what was up with the Audit the Fed vote:
This delay at least gives proponents time to analyze the impact of the modifications before the vote next week, and perhaps get some of their own added to the amendment, if need be.
We progressives never seem to learn. We continually keep getting scammed by nice looking old men like Sanders that end up selling out in the end. Of further heartache was the Democratic senators that voted down the Brown / Kaufman amendment to break up the big banks. Print out the list, stick it on the fridge or the door to the out house and come election day, remember those who sold their soul to Wall Street.
The 27 Democrats who voted against the amendment:
* Akaka (D-HI)
* Baucus (D-MT)
* Bayh (D-IN)
* Bennet (D-CO)
* Carper (D-DE)
* Conrad (D-ND)
* Dodd (D-CT)
* Feinstein (D-CA)
* Gillibrand (D-NY)
* Hagan (D-NC)
* Inouye (D-HI)
* Johnson (D-SD)
* Kerry (D-MA)
* Klobuchar (D-MN)
* Kohl (D-WI)
* Landrieu (D-LA)
* Lautenberg (D-NJ)
* McCaskill (D-MO)
* Menendez (D-NJ)
* Nelson (D-FL)
* Nelson (D-NE)
* Reed (D-RI)
* Schumer (D-NY)
* Shaheen (D-NH)
* Tester (D-MT)
* Udall (D-CO)
* Warner (D-VA)
Yea, Jane!!
Here is Ron Paul’s video on it: http://www.youtube.com/watch?v=7II2diHymv4&feature=player_embedded
Call and write your Senators they may vote as soon as tomorrow. http://www.senate.gov/general/contact_information/senators_cfm.cfm
This from Ron Paul’s facebook (maintained by staff, he doesn’t use language like that): ” Bernie Sanders has sold out and has sided with Chris Dodd to gut Audit the Fed in the Senate. His “compromise” is what the Administration and banking interests want – they’ll allow the TARP and TALF to be audited, but no transparency of monetary policy decisions,discount window operations or agreement with foreign central banks. We need to take aciton and stop this!
The amendment limits the audit only to emergency lending, the GAO would be barred from looking at the Fed’s foreign central bank swaps and its purchasing of mortgage debt from Fannie Mae and Freddie Mac, which is considered part of open market operations and not emergency lending.”
Also, Huff Po is asking for people to point out any ‘gaps’ in Sanders’ ‘wonderful’ language, and I can’t post there (tried to sign up but didn’t go anywhere.) If people could fill them in that would be great.
Ummm, and other unanswered questions include ‘did we bailout foreign banks? Are we bailing out Greece? Does the fed have ‘treaties’ never seen by Congress? Add your own list….
Dear Jane:
Please don’t be too hard on our fellow canine. We all feel betrayed by Sanders and Obama. Betrayal is no way to make friends or keep allies. Perhaps I speak for many of us when I say we are feeling like liberals without a party.I just hope we don’t ever have to feel like patriots without a country. As the fellow said, cheer up, things could get worse, and sure enough we cheered up and things indeed did get worse. Cheers.
Holy smokes. You just listed the paid lobbyists for corporate America who masquerade as elected public officials, who call themselves Democrats, and are actively, consciously working against the public good in all of their decisions and actions. Paid employees of the corporations: just that simple and disgusting. Let’s get them the hell out of office.
FIGHT THIS!!!
Per Politico: ” The Senate had been set to vote on the Fed amendment late Thursday but Republicans requested a delay until at least Tuesday.
Senate Majority Whip Dick Durbin (D-Ill.) said Republicans wanted to make sure Sen. Bob Bennett (R-Utah), who has been campaigning in his state ahead of a nominating convention Saturday, wouldn’t miss the vote. But a Republican leadership aide disputed Durbin, saying Sen. David Vitter (R-La.) wanted time to draw up an alternative to the new Sanders amendment, which some in the GOP viewed as “gutted.”
The original Fed amendment had gained broad support in the Senate – and a version is included in the House legislation. But if it had survived the Senate intact, Obama might have been forced to veto the entire bill.
Sanders told POLITICO Thursday night that the compromise included “very minor modifications, which in some ways strengthen the bill.” He pointed to provision requiring an audit of Fed bank governance, including whether the bank directors effectively represent the public and whether the election of bank directors presents a conflict of interest.
But Rep. Ron Paul (R-Texas), who teamed up with Sanders on the issue, slammed the compromise on his Facebook page. Paul wanted the audit to include the Federal Open Market Committee, which sets interest rates.
“Bernie Sanders has sold out,” Paul wrote. “We need to take action and stop this!”
Read more: http://www.politico.com/news/stories/0510/36905.html#ixzz0nDLpcDKt
Dude, dudette, don’t you get it? He *is* a republican.
He’s a fourflusher. He’s on their side, not ours. Never was.
Well, John McCain would certainly know a thing or two about setting up a corrupt system of fraud and laundering with government collusion.
Another depressing day another bit of depressing news.
Thanks, but not sure I could get through the metal detector lol.