Bernanke opposes ‘nightmare’
By Stephen Dinan The Washington Times
In a move that serves as a capstone to Rep. Ron Paul’s colorful career, the House on Wednesday voted to have Congress‘ chief investigators conduct a full audit of the Federal Reserve’s shrouded decision-making process.
The overwhelming 327-98 vote sends the measure to the Senate, where Majority Leader Harry Reid, Nevada Democrat, at one time expressed support for an audit — though he reportedly has changed his mind.
House passage already marks a high-water mark for those who for years have been pushing for an audit, led by Mr. Paul. The Texan rode the slogan “Audit the Fed” to prominence in two Republican presidential primary campaigns, and he said the bill is a chance for Congress to begin to reclaim the money and banking powers it is given in the Constitution, but had delegated to the Fed.