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)
“I can never bring you to realize the importance of sleeves, the suggestiveness of thumb-nails, or the great issues that may hang from a boot-lace.”
—Sir Arthur Conan Doyle (1859–1930)