Tuesday, May 11, 2010

Senate Passes One-Time Fed Audit

by Calculated Risk on 5/11/2010 01:23:00 PM

From the NY Times: Senate Backs One-Time Audit of Fed’s Bailout Role

The Senate on Tuesday voted unanimously to require a one-time audit of the Federal Reserve’s emergency actions during and after the 2008 financial crisis as part of broad legislation overhauling the nation’s financial regulatory system.
This is a one time audit (as opposed to the house bill), and would also require the Fed to release a list by Dec 1, 2010 of all of the institutions that received emergency assistance during the financial crisis.