WASHINGTON — The Senate voted 96-0 Tuesday to authorize a congressional audit of the secretive Federal Reserve Board's emergency aid program and full disclosure of who got the money, a plan that could reveal more details about government help for embattled investment firm Goldman Sachs.
"We are on the verge of lifting the veil of secrecy on perhaps the most important government agency in the United States of America," said independent Vermont Sen. Bernard Sanders, the proposal's chief sponsor, "an agency which has control and spends trillions of dollars. They do it behind closed doors."
Under his plan, Congress' Government Accountability Office would conduct "a top to bottom audit of all the Federal Reserve's emergency activities" since the economic crisis began in December 2007. The Fed also would have to post on its website all recipients of money from the more than $2 trillion in emergency aid will that's been disbursed since then.
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