House approves sweeping, post-crisis bank reform

[pegasus]

Lawmakers impose a Fed audit in two years

A series of measures introduced by Rep. Michael Burgess, R-Texas, were also approved by the House, including a provision that would require the Government Accountability Office to conduct an audit of the Federal Reserve's monetary policy as well as how much the central bank has lent and will lend to specific banks within two years of when the legislation was approved. The House Financial Services Committee in November approved a Fed audit bill introduced by Rep. Ron Paul, R-Texas., but set no deadline for when the GAO must act.

http://www.marketwatch.com/story/house-begins-to-vote-on-sweeping-bank-reform-2009-12-11

 

[Tech]

this isn't really all that great.

Ron Paul's amendment passed with the bill (which is good), but as a whole the bill sucks.

now it goes to the Senate.