Transpartisan Coalition Builder (and friend) Michael Ostrolenk on Auditing the FED.


It looks like this effort is gaining ground.  Wishing you well Michael.  Walt

It’s time to shed light on the Fed

By Michael Ostrolenk 01/14/10 at 12:08 am

The most secretive, least accountable institution tied to the U.S. government is not the CIA, DIA or NSA. Those clandestine agencies are subject to at least some Congressional oversight.

Not so the Federal Reserve, which, since its creation in 1913, has been the most opaque institution in the land, despite the power it wields over interest rates and the money supply—indeed, over our whole economy. Now that the economy is mired in a crisis that some say might become a second Great Depression, it’s high time to shed some light on the central bank. Fed Chairman Ben Bernanke isn’t really a vampire—he shouldn’t be afraid of the sunlight……….

………..Fortunately, a transpartisan  coalition of conservatives, liberals, libertarians, and progressives is demanding an audit of the Fed, and legislation Rep. Ron Paul has introduced to do just that has 317 cosponsors in the House. The bill’s Senate counterpart has 31 cosponsors. Will Barack Obama sign it if it passes and make the central bank subject to at least as much oversight as the CIA? The Fed has many secrets, but one thing that everybody should know by now is the terrible price we pay for its unchecked power.

Michael Ostrolenk is a public policy consultant who works on health, education, privacy and national security related issues. He has written for a wide variety of publications ranging from USA Today to The American Conservative Magazine. Mr. Ostrolenk is also a policy fellow for the Coalition for a Realistic Foreign Policy and the Center for Cognitive Liberty and Ethics.

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