Transparency Issues
Another objection is the lack of transparency and audits. In particular, the majority believes it should be held more accountable or abolished. Others believe the public should have a right to know what goes on in the Federal Open Market Committee (FOMC) meetings.
There has only been a partial audit, of which it was discovered 16 trillion dollars were secretly loaned to the banks. Of these loans, they were provided by no-bid contracts and with near-zero interest. .
Read more about this topic: Criticism Of The Federal Reserve
Famous quotes containing the words transparency and/or issues:
““End of tomorrow.
Don’t try to start the car or look deeper
Into the eternal wimpling of the sky: luster
On luster, transparency floated onto the topmost layer
Until the whole thing overflows like a silver
Wedding cake or Christmas tree, in a cascade of tears.””
—John Ashbery (b. 1927)
“Your toddler will be “good” if he feels like doing what you happen to want him to do and does not happen to feel like doing anything you would dislike. With a little cleverness you can organize life as a whole, and issues in particular, so that you both want the same thing most of the time.”
—Penelope Leach (20th century)