re: #147 Gus 802

one has to wonder what the motivation is behind the opposition to this bill.

Because it’s a very bad idea to bog down the Fed with bureaucratic red tape from congress. They often have to act quickly to avert crises and there’s not time to hold meetings, debates and votes in congress before they take action. Also, giving control of our monetary policy to Congress is just about the worst idea possible.

Ben Bernanke: Federal Reserve audit would constitute “takeover” by Congress

Also the Fed does operate with a certain amount of secrecy to avoid panic in the markets and insider trading. Giving congress access to this information is a recipe for disaster.
Either way, even if the legislation passes it will surely be vetoed. Even Obama is not stupid enough to let this go through.