Audit the Fed Amendment

[ayabe]

That sounds a lot like "This company is too big to fail."

Well OK but I think you're leaning towards complete economic collapse, banks runs as they happened before the FDIC cannot occur anymore by default.

If you want to argue that the FDIC is in the "too big to fail" category - I'd would counter that if that really ever came to be, we'd have much bigger problems on our hands than not being able to take our money out of the ATM - we'd be talking the complete collapse of the federal government.

 

[bfdd]

Actually, if more transparency were present, I think people would actually feel better about things. Lack of confidence across the entire economy is a huge part of the problem right now.

Things are not going to get markedly better until normal consumers start spending again.

As evidenced by the disconnect between the DOW and the rest of the economy people are wondering why Wall Street is almost doing better than ever, yet everyone else is struggling. If this brings more ire onto Geithner, the big banks, and the Fed well so be it.

Time to clean house.

I agree, I'm very happy this passed. Hopefully they take off the kid gloves.