[logician2u]

This was the great, heroic, bipartisan amendment to the Dodd/Frank disaster that we're supposed to feel good about? It did nothing. Even Paul is barely talking about the findings of his "audit" on the stump.

For good reason, I would say.

HR 1207, Paul's audit-the-Fed resolution, passed the House handily but was derailed in the Senate and replaced with language that actually gave the Fed more power -- and skirted a requirement for an independent audit.

The $16 trillion in "loans" you mention (which figure included commitments by the Fed in addition to amounts loaned to European banks) was revealed after the Bloomberg Corp. sued under FOIA and a judge issued an order for the Fed to turn over the records, somewhere in the vicinity of 15,000 printed pages. (Imagine paying the cost of copying at 25 cents/page. But Bloomberg is a billionaire so can afford it.)

Read Ron Paul's detailed narrative of how this fiasco went down and you'll understand why he doesn't go around bragging about his success with the audit bill.

Congress has just a 10% approval rating?

Well, there must be a reason.

[Razzz42]

Thanks for that info. Must be a reason why the Federal Reserve relented on disclosure. They could have stonewalled for years.

As you can see (members of) Congress create the problems. Might as well be call the Bank of Congress.