We're gonna audit the FED

Discussion in 'Politics, Religion, Social Issues' started by eric/, Jul 25, 2012.

  1. eric/ Guest

    eric/

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    #1
    Link

    I think this is a fantastic idea. We need accountability at all levels of the government.
     
  2. mcrain macrumors 68000

    mcrain

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    #2
    I think the Democrats in the Senate should treat this like the tax extensions. They should agree to the audit of the Fed if and only if the GOP agrees to an audit of Mitt Romney and the SuperPacs who are funding the GOP campaigns. They should be tied together or not pass.
     
  3. eric/ thread starter Guest

    eric/

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    #3
    Well I think that they should be audited, but I don't think it's a good idea to lump all the legislation into one.
     
  4. malman89 macrumors 68000

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    #4
    Democrats have SuperPACs too. They're just not doing it right. If they were, would you be moaning about an audit then?

    I'm all for bashing one party or the other when appropriate, but something like that goes both ways.
     
  5. fox10078 macrumors 6502

    fox10078

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    #5
    The last thing we need in this country is more bickering and bills rolled into one, this bill actually makes sense, and is for once has this congress doing something right.

    Country is too polarized now.
     
  6. blackfox macrumors 65816

    blackfox

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    #6
    Not that this bill will pass the Senate - but I'd be wary of injecting politics into monetary policy. Sounds like a good idea in theory, but with the behavior of Congress...probably disastrous.
     
  7. eric/ thread starter Guest

    eric/

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    #7
    Well what exactly is political about transparency in the government? Why should anything be off limits?
     
  8. WRP macrumors 6502a

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    Yeah, I'm sure this is going to work out well.
     
  9. NickZac macrumors 68000

    NickZac

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    #9
    I wouldn't lump but I think both should be audited given so many people speak of "transparency" in government.
     
  10. Rodimus Prime macrumors G4

    Rodimus Prime

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    #10

    Transparency yeah is a good thing but sadly I do not trust the political leaders big the time the GOP not trying to twist the infomation for political gain. That is my problem with it.

    We already know that the GOP is willing to destroy the economy for their own political gain. We have multiple examples of that in the past 6 months. So yeah I do not trust the GOP at all and I do not trust what they would do with the info.
     
  11. citizenzen macrumors 65816

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    #11
    Just out of curiosity ... what could an audit of the Fed show that would be the smoking gun that might bring down that institution?

    What do you expect an audit to expose and what fixes do you think will be necessary?
     
  12. MacNut macrumors Core

    MacNut

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    #12
    I would like to see an audit of the yearly budget. Line item dollar for dollar on everything.

    I want to know exactly where my tax dollars are going and what it is being wasted on. Only then will they spend it wisely if they knew they can't just throw it away.
     
  13. Sydde macrumors 68020

    Sydde

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    #13
    An audit could conceivably reveal that the fed is a cabal of elitist financiers who manipulate monetary distribution and policy to benefit themselves and their cronies to the detriment and/or misery of everyone else. Or not.

    If corruption and cronyism were to be the case, the fix would be to restructure the board for greater egalitarianism and to require absolute, immediate transparency for every smallest action they take.

    Of course, whether or not there is any real government influence or oversight, a transparent fed would necessarily become politicized by the punditocracy who will spin and rail over every move they make. The only practical alternative would be some form of competitive balance, though how that could be made to function is completely beyond me.
     
  14. Gelfin macrumors 68020

    Gelfin

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    #14
    What I fear, and expect, is that the outcome of such an audit will be a brilliantly written Matt Taibbi article that will be posted to several web sites and receive a number of outraged comments calling for someone to do something about the clearly criminal behavior it describes… and that's pretty much it.
     
  15. turtle777 macrumors 6502a

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    #15
    I'm all for it, but this will never pass Democratic Senate. It's a shame.

    -t
     
  16. Jackintosh macrumors 6502a

    Jackintosh

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    #16
    Allowing Congress to audit the FED defeats the purpose of an independent central bank that doesn't allow the politicization already running rampant in Congress.

    You know that the super PACs and influence pedaling already controls most congressmen, especially Republicans. Now imagine those money-grubbing fat cats with their hands on FED policy. Be careful what you ask for.
     
  17. Jagardn macrumors 6502a

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    #17
    Mitt Romney is rich, and you hate rich people, we get it.
     
  18. mcrain macrumors 68000

    mcrain

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    #18
    I don't hate rich people, and in fact, many of them/us are liberals. I don't like people who don't care about the overall good of my country.
     
  19. Jagardn macrumors 6502a

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    #19
    So, why do you care about his tax returns?
     
  20. Sydde macrumors 68020

    Sydde

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    Because his tax returns are a window into his soul. If, in fact, he has one, which has not clearly been established and I find doubtful. As far as Mitt Romney goes, money appears to be his entire raison d'être, so looking at his finances is an entirely logical way to quantify his character.
     
  21. NickZac macrumors 68000

    NickZac

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    #21
    Someone's finances speak to their character? I think that is a little extreme.
     
  22. rdowns macrumors Penryn

    rdowns

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    #22

    Normally I'd agree but his refusal to release them, despite pleas from a bunch of high profile Republicans, tells me that he believes that what's in those tax returns is worse than the flak he'll take for not releasing them.

    He gave McCain 20 years of tax returns when he was vetted for VP in 2008.
     
  23. citizenzen macrumors 65816

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    #23
    It's extreme if you believe it defines his value as a human being.

    But it's pragmatic to consider it when determining anyone's ability to lead this country.
     
  24. HyperX13 macrumors 6502

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    #24
    So almost no democrats want to edit the fed! Imagine that!
     
  25. citizenzen macrumors 65816

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    #25
    I still don't understand enough about it.

    :(

    What do we expect to find?

    What fixes do you believe are in order?

    (this is what you get when you try to filter finances through an artistic [drunk] mind.)
     

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