Fed Transparency ‘Gaining Momentum’

The Senate began voting Wednesday on amendments to financial reform legislation.  Sen. Bernie Sanders will fight for amendments to break up “too big to fail” banks and cap credit card interest rates.  Sanders is also seeking an audit of the Federal Reserve to disclose which institutions received trillions in low-interest loans from taxpayers.  The senator’s amendment is garnering increasing support from progressives and conservatives alike.  The Washington Post said that the effort is “picking up steam” and The Wall Street Journal noted that it was “gaining momentum.”  Sanders told MSNBC’s Dylan Ratigan, “I frankly have never seen an amendment, not only which has the kind of right-left support that we're seeing right now, but it's also true among grassroots organizations.  You have the AFL-CIO, the SEIU.   You have, on the other hand, the Americans for Tax Reform and other extremely conservative organizations coming together and saying ‘Look, if several trillion dollars of taxpayer money was lent out to large financial institutions we have a right to know who received that money.’” Take a poll on whether or not you support this idea here.

To read The Wall Street Journal article, click here.

To read the Washington Post article, click here.