Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, May 11, 2010

Senate Calls for Audit of Fed Reserve

Expressing its frustration with the secretive policies of the Fed, the Senate voted unanimouslyfor a onetime audit to learn details of the emergency funding made by the Fed during the financial crisis.  The Fed would have to post information on its website about firms that received funding.  This measure is a compromise from previous proposals that would have required regular audits.  For details, see WPost, Senate passes measure for increased Fed oversight.

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