The Senate approved a plan to audit the Federal Reserve with a 96-0 vote, opening the secretive central bank up to scrutiny of its lending practices and who´s receiving its funds. The amendment was sponsored by Sen. Bernie Sanders of Vermont.
"We are on the verge of lifting the veil of secrecy on perhaps the most important government agency in the United States of America," Sanders said, "an agency which has control and spends trillions of dollars. They do it behind closed doors."
The Government Accountability Office would conduct a "top to bottom" audit of everything the Fed has done in response to the financial crisis since it began in December 2007. It´s part of the Democratic bill to reform the U.S. financial sector.
