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)
“The “universal moments” of child rearing are in fact nothing less than a confrontation with the most basic problems of living in society: a facing through one’s children of all the conflicts inherent in human relationships, a clarification of issues that were unresolved in one’s own growing up. The experience of child rearing not only can strengthen one as an individual but also presents the opportunity to shape human relationships of the future.”
—Elaine Heffner (20th century)