Fed Chairman Ben Bernanke Fears Economic Collapse If the Fed is Audited

06-27-2009 • prisonplanet

My analysis of Bernanke's statement: “My concern about the legislation is that if the GAO (Government Accountability Office) is auditing not only the operational aspects of the programs and the details of the programs but is making judgments about our policy decisions, that it would effectively be a takeover of monetary policy by the Congress and a repudiation of the independence of the Federal Reserve which would be highly destructive to the stability of the financial system, the Dollar and our national economic situation.”