It might simply be a mistake by a C-Span intern, but during the debate on the Sanders' amendment to audit the Fed (which passed 96-0), C-Span showed the following text on the screen the entire time:
"...permits GAO to audit financial records of the Federal Reserve since September 2008."
It's clearly visible in the screenshot above.
As originally modified to get White House support the Sanders amendment was set to cover Federal Reserve activities beginning December 1, 2007. If it wasn't a C-Span error, and the Sanders amendment was modified again this morning prior to the vote, then the entire Bear Stearns - JPMorgan transaction would be excluded from GAO scrutiny. Obviously, this would not be a positive development.
Still working the story...waiting for final word from Bloomberg reporter Craig Torres...will update as soon as we get confirmation either way.
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Does the modified Audit the Fed amendment of Bernie Sanders do the job?
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UPDATE:
From Dr. Pitchfork
Here's today's press release from Sanders, along with the text of the amendment. Unless HIS interns are goofing up, I think we got a good deal. Maiden Lane, etc. are mentioned by name in the text of the bill. The press release is set to go out on Sanders' RSS feed at 4:48pm today and it references the December 2007 time-frame.
"Under his amendment, the Government Accountability Office would conduct a top-to-bottom audit of all emergency actions by the Fed since the start of the financial crisis in 2007."
http://sanders.senate.gov/newsroom/news/?id=C4A45B70-1837-4F76-8606-1F7FAF1932D2
Text of the Amendment:
http://sanders.senate.gov/imo/media/doc/Document2.pdf
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UPDATE II:
From Dr. Pitchfork
Sanders speaks at press conference today (5/11). Gives shout-outs to Stephen Friedman and Lloyd Blankfein. Nice.
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It's a positive step...96-0 will make the nightly news...maiden lane (1,2 and 3) are mentioned by name...what we learn will lead to more momentum for a full audit...what we learn in a full audit could build momentum to end the fed...it's gonna be a long road.
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