In an overwhelming vote of 96 to 0, the US Senate passed an amendment for a one-time audit of the Federal Reserve, the first audit of its type conducted since September 2008.
According to the New York Times, the Office of Government Accountability is to examine approximately $2 trillion in emergency loans that the Federal Reserve provided to the some of the nation’s biggest banks.
The audit would require scrutiny of the Federal Reserve’s emergency operations starting from December 1, 2007.
