Thursday, April 30, 2009

An amendment related to S604 Fed Transparency was opposed by The Political Class, including Senator Dodd

In a recent post I mentioned that Bernie Sanders (Populist - VT) introduced the "Fed Transparency" bill. I hadn't seen any press about it though, so I started searching the web and came across something at The Sunlight Foundation.

The Sunlight Foundation mentioned an AP article which states:

The Senate has gone on record in favor of requiring the Federal Reserve to reveal the names of the banks and other financial institutions it has lent money since a crisis hit the financial system last year... Fed Chairman Ben Bernanke refused to (reveal the names) at a recent hearing.

Anyway, the concern I raised in my previously mentioned post was whether Senator Dodd was going to demand transparency at the Fed and let the voters know where the Fed's recently printed $10 trillion went.

Who reaped the benefits of Bernanke's fake money fiat money? Or at least, who besides Goldman Sachs, gained from the Fed bailouts?

And now that I stumbled across this piece by the Sunlight Foundation, I see the Senate roll call on this vote for transparency.

Unsurprisingly, Senators Schumer (Political Class - NY), McConnell (Political Class - KY) and Lieberman (Political Class - CT) all opposed transparency.

And in staying true to their electoral mandates, Senator Sanders (Populist - VT), Feingold (Populist - WI), Demint (Populist - SC) and Coburn (Populist - OK) supported the legislation.

In a nod to his boss, Senator Dodd (Political Class - CT) opposed transparency and supported The Banksters who run The Fed and fund his campaigns.

Tim White

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