re: #1528 SixDegrees

They would control it, no matter who the contract was let to. And Paul has plainly stated that he sees this as a stepping stone to his real goal, which is the dismantling of the Fed and transfer of it’s role to Congress, leading to monetary policy being determined by political rather than economic considerations. His intention is to use the audit as a fishing expedition to dredge up hundreds of thousands of tiny details that can be played off each other and magnified to fit his agenda.

The Fed needs to remain independent. They already provide extensive reporting on their internal operations on a monthly, quarterly and yearly basis. If anyone feels an audit is desirable, Congress can pass a requirement that the Fed hire an independent auditing firm as part of it’s normal operation. But that sensible option has been rejected by Paul, who insists that Congress - in particular, himself - should directly supervise the audit, and ultimately the Fed.

Congressional control of monetary policy is a recipe for disaster.

Well of course I don’t want congress and/or Paul in particular to audit the fed!